Data breaches at major corporations are costing state banks and customers’ time and money.

First Dakota National Bank based in Yankton recently replaced a large number of debit cards for customers who had used them at Kmart. That company was one of the latest to get hit by computer hackers.

First Dakota President Rob Stephenson says they know the replacement process is irritating…

 

Stephenson says banks are often the last in the chain when there is a hacking incident…

 

Stephenson says changes in how credit and debit cards are secured will help avoid those types of issues in the future…

 

Stephenson says the changes in rules will put more of the risk on retailers and not on banks.