Bank Of Hawaii Smoothes Out Overdraft Fee Fight For $9M

By Carolina Bolado (February 15, 2012, 5:45 PM EST) -- A Hawaii state judge on Tuesday approved a $9 million settlement with a class of more than 160,000 Bank of Hawaii Corp. debit card holders who claim they were charged excessive overdraft checking fees.

Judge Karen Nakasone signed off on the settlement agreement, which allots payments to class members based on how many times they paid the overdraft fees, according to plaintiffs' attorney Brandee Faria of Perkin & Faria LLC. Of the $9 million settlement amount, 25 percent will be used to pay attorneys' fees, Faria said.

"It's an excellent recovery for our clients," Faria said. "There are 160,000 class members,...

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