I need to know what other community bankers are doing in response to the Heartland Breach.
If you don't already know, information is available at www.2008breach.com.
Some sources are saying 600 million debit and credit card numbers - including MasterCard, Visa, American Express, and Discover Financial - were compromised. Your vendor (the entities on the back of your debit and credit cards) can tell you if your bank was affected. (Non-bankers, your bank can tell you or soon will be able to tell you).
Our vendor has said we have the option of issuing all new cards to all affected customers (at a cost of over $20,000 to the bank, which will not be reimbursed), or issuing letters to all affected customers (still will cost thousands and lots of time and staff). If your bank or financial institution is affected, please respond with:
# of affected cards - Response chosen (letter or automatic card replacement) - estimated cost - Your region (i.e., Westcoast, Southeast, Eastcoast, Midwest)
4,000 cards - Sending a letter - estimated cost $1,500 plus staff time - Region = Southeast
I think we need to get a feel for what others are doing so our response makes sense within the context of the rest of the country. If this has been addressed elsewhere at BOL, please advise.