Chase ups limits on cards after Target breach

JPMorgan Chase is easing restrictions it placed on customers who used debit cards at Target stores during a massive credit and debit card security breach at Target stores, the company told customers Monday.

Target revealed last week that about 40 million accounts used to pay for purchases at its U.S. stores from Nov. 27 to Dec. 15 "may have been impacted" by the breach.

Chase, the nation's largest bank, and Citibank imposed limits on cards that were affected — in Chase's case, restricting withdrawals to no more than $100 a day in cash and $300 in purchases.

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In a letter to customers, Chase said Tuesday that it was raising those limits to $250 a day in cash and $1,000 a day on purchases.

Chase said it was making the change after monitoring fraud activity over weekend and may continue changing the limits "if we feel it makes sense."

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Banks may take their pound of flesh from Target over breach