TODAY   |  January 13, 2014

Target CEO vows to deal with security breach

Gregg Steinhafel, CEO of the retailer currently dealing with the fallout from a massive security breach compromised that millions of customers’ credit and debit accounts, pledges that Target will pay back “any possible fraudulent activity” on those accounts.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> as the target corporation deals with a massive security breach affecting more than 100 million credit and debit card customers, the company's ceo spoke exclusively to cnbc's becky quick . and becky joins us now. good morning, becky.

>> good morning, natalie. right now, target's top priority is to try to win back shoppers. the first step is to reassure consumers they won't be held responsible for any charges that occur as a result of the breach.

>> zero liability is zero liability, which means target is paying for any fraudulent, any possible fraudulent activity on anybody's credit card . and we're providing the free credit monitoring service. so the guest has no liability whatsoever.

>> target says that it will work with the banks to determine who will actually reimburse the consumer. and those reassurances have helped restore some trust in the company. after the breach in december, sales at target dropped off sharply. but as of friday, target says sales have returned to almost normal levels. of course, that was before the latest revelation that additional personal information from as many as 70 million americans had also been compromised. now the jury is out on target. and again, the entire retail sector is scrambling to try to figure what will happen after this. back to you.

>> becky quick , thanks so much. and you can watch the entire interview on cnbc.