After Target Breach, Banks Are Way Behind In Reissuing New Cards

The baddies behind the recent Target payment data breach are selling off card data at fire-sale prices and cranking out cards that can be used in the real world, some of the people whose card numbers were breached have a long wait to get their new cards issued.

Over at Krebs on Security, which is the best source for the very latest original reporting on this breach and other security issues, Brian Krebs discussed the card-making situation with the head of security at an unnamed credit union. This credit union notified customers of the breach when they learned which ones were affected. This credit union has the actual cards printed by by Fiserv, a Wisconsin-based company that Then they learned that in order to get new cards printed for their members, they would have to get in line: there were about two million cards from other financial institutions in line ahead of them. You know, tiny institutions like Chase and Bank of America.

Fiserv, for its part, says that it’s doing the best that it can. “A large breach injects additional demand into a system that is already operating at near-peak capacity at year-end,” a Fiserv executive told Krebs.

Instead of waiting in line, this credit union opted to do it themselves. Fortunately, they were equipped to create their own cards at one branch, and employees cranked out the 2,000 new Visa cards needed.

Are you still waiting for a new card from your bank or credit card company, post-breach? Is it causing real-life problems for you? We want to hear about it – contact us at tips@consumerist.com.

Card Backlog Extends Pain from Target Breach [Krebs On Security]