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Bank of Hawaii in Honolulu has agreed to pay $9 million to settle a class-action lawsuit in which it was accused of improperly charging overdraft fees on debit card transactions.
July 19 -
Bank files preliminary pact over claims that it racked up a half-billion dollars in wrongful overdraft fees every year.
February 4
A judge has approved Bank of Hawaii Corp.'s deal to pay $9 million to settle a class action involving overdraft fees.
State Circuit Judge Karen Nakasone approved on Tuesday the deal between the $13.3 billion-asset bank and 160,000 customers, the Honolulu Star-Advertiser
The lawsuit, filed in February 2011, accused the Honolulu bank of intentionally processing debit card transactions from the highest dollar amount to lowest to maximize overdraft fees. The
Numerous other banks are still facing litigation regarding the order in which debit card transactions were processed. JPMorgan Chase & Co. said recently that it had reached a tentative agreement to
