Heartland Payment Systems has reached a settlement with American Express under which it will pay AmEx $3.6 million for expenses incurred as a result of Heartland's data security breach.

"In January, Heartland disclosed a massive security breach of more than 130 million credit and debit card numbers," writes SearchFinancialSecurity.com's Robert Westervelt. "Since then, the payment processor has been working to settle the repercussions, absorbing expenses for technology upgrades as well as costs incurred by financial institutions for replacing millions of consumer credit cards."

"A number of arrests have been made in connection with the breach," Westervelt notes.

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