Credit card lenders face losses due to Sony data breach

05/2/2011 | Bank Systems & Technology

The breach of Sony's data could cost credit card lenders more than $300 million if those affected decide to replace their cards. "It's not insignificant," said Sanjay Sakhrani, analyst at Keefe, Bruyette & Woods. Each customer who asks for a replacement credit card will cost the banks as much as $5, according to analysts. The breach could also cost credit card lenders business.

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