Financial Institutions Working To Plug Michaels Stores Breach.(News)

Byline: Ed Roberts

Financial Institutions around the country are blocking thousands of debit cards as they struggle to contain the latest nationwide data breach at Michaels Stores.

Nevada FCU canceled 1,300 Visa debit cards after about 100 reports of fraudulent activity over the long Memorial Day weekend they have traced to the Michaels problem.

Software programs have traced the source of the breach as the three Michaels stores in Las Vegas, according to Brad Beal, president of the $700 million Las Vegas credit union, who has been providing information to the U.S. Secret Service for the investigation.

Beal said they are still working to determine …