TD Bank settles with 9 States after 2012 data breach

On October 8, 2014, TD Bank agreed to pay $850,000 and enhance data security safeguards after an investigation by nine state attorneys general because of a data breach. In 2012 the attorneys started the investigation after a locked bag containing two Backup Tapes with personal information of the banks customers went missing.

The conduct allegedly constituted a data breach violating consumer protection and personal information safeguards Statutes of nine States. In addition to the fine, to settle the dispute TD Bank agreed to enhance data security safeguards and policies, to notify data subjects of possible breaches and to train employees on the new privacy policies.

TD Bank assurance of voluntary compliance dated October 3, 2014, is available at…

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