Settlement reached in data breach lawsuit

The Connecticut Bankers Association settled a lawsuit against TJX Companies Inc. over a 2006 computer breach at the Massachusetts-based retailer.

The Connecticut Bankers Association, whose 64 members include Bridgeport-based People”™s United Financial Inc. and Ridgefield-based Fairfield County Bank Corp., did not disclose financial terms except to say TJX is reimbursing it for a portion of the expenses they incurred, not including attorneys fees.

Other settling plaintiffs included the Massachusetts Bankers Association and the Maine Association of Community Banks.

TJX has agreed to provide up to $41 million in payments to banks that issue Visa credit cards, which may have suffered damages as a result of the data breach.

Framingham, Mass.-based TJX, whose brands include Bob”™s Stores, Home Goods, Marshall”™s and T.J. Maxx, has 20 stores in Fairfield County.