It is not the companies fault that their security was breached. It is also not the customers fault. The customers gave their information to the company thinking their information was secure and safe. If that was not the case, then Chase Bank should make sure the customer does not face any of the penalties and damages done, and if they will not do that then the customer should have every right to take legal actions. The company should be insured to protect customers.
Banks are meant to be a safe place to keep the hard-earned money made and even possibly earn interest on it and make a profit. If a bank consistently has data breaches to the point where it endangers its customers, it is time to take action. The sooner customers take action, the sooner Chase can put new rules in place to keep these data breaches from happening again.
The recent breach of data of Chase Bank has massively affected households as well as small business enterprises, which is one of the largest cases of its kind. The hackers were able to compromise personal information such as names, email addresses and phone numbers, which may severly affect how bank conducts its transactions.
The process of protecting a customers information is continuous. Where hackers are limited only by their creativity, banks and other storehouses of customer information is limited by cost, privacy laws, and other such factors. Unless a company is negligent in their duty to protect a customers information they should not be held liable beyond the damage done or funds lost. To expect more is to either increase the cost of banking services in order to offset the risk to the bank or to have banks limit their services to allow for those increased costs.