Class Action Consumer Fraud Settlement of $9 Million Approved by a Judge

A class action consumer fraud lawsuit settlement between Bank of Hawaiiand 160,000 customers for $9 million has been approved by a Hawaii Circuit Court judge.

According to Pacific Business News, the bank had been sued over the method it used to calculate overdraft fees by reordering the transactions from the highest dollar amount to the lowest. This caused the available funds in many customers’ accounts to dip into the negative sooner than they expected and lead to them incurring more overdraft fees than expected.

Other banks in the U.S., such as Regions Financial Corp. and JP Morgan, have gone through similar litigation. JP Morgan has settled their lawsuit for $110 Million.

If you or a loved one has been wronged by consumer fraud, contact Sokolove Law for a free legal consultation.