A Hawaii Circuit Court judge has approved a $9 million settlement between Bank of Hawaii and160,000 customers in a class-action lawsuit over the method the bank used to calculate overdraft and ATM fees by reordering transactions from the highest dollar amount to the lowest amount.
The Honolulu Star-Advertiser reports the Tuesday approval of the Bank of Hawaii (NYSE: BOH) settlement follows another judge’s Jan. 31 order approving a $1.2 million settlement between Central Pacific Bank(NYSE: CPF) and 10,000 class members in a lawsuit over that bank’s overdraft fees.
The newspaper reports that while the amounts will vary based on the fees incurred, each Bank of Hawaii customer would receive about $42.19 under the settlement, which Central Pacific Bank customers would each receive about $90.












