Banks cap customers’ debit cards in the wake of Target hack

The theft of credit and debit card information for as many as 40 million Target customers, first reported by independent journalist Brian Krebs, is prompting banks to take action.

JP Morgan Chase, Santander Bank, and Citibank have capped debit card purchases and ATM withdrawals for customers whose accounts may have been compromised. Some smaller banks are out-and-out canceling customers’ cards.

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