JPMorgan’s Dimon: Target Breach Is A Wake-up Call
JPMorgan Chase’s CEO Jamie Dimon said more Target-sized security breaches will happen if banks and retail stores don’t start working together to further protect customers’ data. JPMorgan has replaced 2 million credit and debit cards as a result of the Target breach, Dimon said. However, the bank hasn’t seen a reduction in consumer spending due to the breach, and there are no signs that consumers moved to other forms of payment, like cash or checks.
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