Home Depot settles lawsuit with customers over huge data breach in 2014

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(Photo Credit: MGN Online)

Home Depot has agreed to pay at least $19.5 million to U.S. customers who were affected by the 2014 data breach, according to Reuters.

They plan to set up a $13 million fund to reimburse shoppers for losses. They’ll spend about $6.5 million to fund 1-1/2 years of cardholder identity protection services.

They also agreed to improve date security. They will also hire someone to oversee the process.

“We wanted to put the litigation behind us, and this was the most expeditious path,” spokesman Stephen Holmes said. “Customers were never responsible for any fraudulent charges.”