FINANCE

Visa Banks Accept TJX Offer

BY CSA STAFF

Framingham, Mass. The banks that issue credit-card loans through Visa agreed to a $40.9 million reimbursement from TJX Cos. for exposing consumers’ personal information to hackers, the retailer said Thursday.

Banks representing more than 95% of eligible U.S. Visa accounts affected by the breach accepted the offer, TJX said. The offer required an 80% approval rate to pass.

After initially disclosing the data heist in January, TJX said in March that at least 45.7 million cards were exposed to possible fraud in a breach of its computer systems that began in July 2005. Recent court filings by some banks that sued TJX put the number of cards affected at more than 100 million, based on estimates by officials with Visa and MasterCard, who were deposed in the lawsuit.

The company will pay Visa’s member banks within a week.

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Wal-Mart gives 3 million meals to food bank

BY CSA STAFF

BENTONVILLE, Ark. Wal-Mart announced Tuesday that it is donating $1 million worth of meals to America’s Second Harvest to help with a nationwide food and grocery shortage in food banks.

Wal-Mart said it is donating 3 million meals in response to a call to action by its philanthropic partner America’s Second Harvest-The Nation’s Food Bank Network. According to the company, it is the first corporation in the country to respond to the request and will supply more than 25% of the meals needed to prevent the shortage.

“The hunger crisis our nation’s food banks are currently facing is something that all of us at Wal-Mart care about and are taking very seriously,” said Margaret McKenna, president of the Wal-Mart Foundation. “We are pleased to be in a position to respond to the call to action from America’s Second Harvest, and hope that this donation will help them to feed those who are hungry this holiday season.”

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Aldi to open DC in Florida

BY CSA STAFF

LAKELAND Aldi is looking to build a distribution center and regional headquarters in Haines City, Fla. in preparation for its Florida debut next year, according to reports.

The new 500,000-square-foot DC and HQ would reportedly bring about 100 jobs to the city and support the companies planned 20 to 25 stores in the Central Florida region.

Aldi currently operates in 26 states with more than 850 locations.

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