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 on Feb. 14 approved the deal between the $13.3 billion-asset bank and 160,000 customers, the Honolulu Star-Advertiser reported on Feb. 15.
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 settlement initially was reached in July.
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 pay $110 million to settle an overdraft fee class action suit (
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