Newsroom

Home Depot is facing at least 44 civil lawsuits in the U.S. and Canada due to the home-improvement chain's massive data breach earlier this year, according to reports.

Home Depot is also under investigation by various state and federal agencies as it continues to investigate the data breach on its end as well as its financial impact. Fox Business reported that the company acknowledged that it may still identify other data that were stolen.

To help prevent future cyber attacks, the company says it has recently completed a project that encrypts consumers' card data at the store's point-of-sale networks throughout the U.S. The company is also working to implement EMV technology throughout its stores.

In a statement on its third-quarter results released last week, Home Depot reported $28 million in pretax expenses as a result of the data breach.

Data breaches and cyber attacks are showing no signs of slowing down. Cybersecurity experts are predicting a "surge in attempted attacks" this holiday season, according to The Wall Street Journal.

Target, which suffered a massive data breach almost exactly one year ago, is also continuing to deal with numerous lawsuits and recently asked a federal judge in Minnesota to dismiss claims from five banks affected by the data breach. Target has admitted missing warning signs of the breach.

NAFCU continues to push for action in Congress on a national data security standard for retailers and action addressing cybersecurity threats. The association was the first financial trade group to call for a national data security standard for retailers in the wake of the Target breach.