Chase is limiting credit cards as fallout from the massive Target breach
that resulted in the credit card data from over 40 million customers being exposed. Reuters reports
that Chase has placed limits on customers that shopped at Target during the Nov. 27 and Dec. 15 period. Reuters says Chase is limiting affected debit card holders to $100 a day of cash withdrawals and $300 a day of purchases. The limits could cause cardholders some problems when it comes to Christmas shopping.
Other banks are taking action on affected debits cards, such as increased monitoring, but have not placed any known limits like Chase. Some experts are advising holders of debit cards that shopped at Target during the breach period to get a new card issued.
Jamie Court, president of Consumer Watchdog, told Reuters the banks are behaving like the Grinch. Court says, "It seems like the banks are the 'Grinch who stole Christmas.' It is Target's fault, but children across America are going to bear the price ... The banks are protecting themselves."