Banks thwart Target's proposed $19M settlement with MasterCard

The proposed $19 million settlement between Target Corp. and MasterCard over reimbursement from the retailer's 2013 data breach has fallen apart after too few banks signed on to the deal. Minneapolis-based Target said 90 percent of card issuers needed to opt into the settlement by May 20, but MasterCard informed the retailer that it hadn't reached that threshold. Target (NYSE: TGT) declined to comment further. More here.