If you were charged overdraft fees by Bank of Hawai’i from February 15, 2005 through August 15, 2010, you could get a payment from a Bank of Hawaii overdraft fee class action settlement.
A class action settlement has been reached in a class action lawsuit against Bank of Hawai’i (“Bank of Hawai’i” or “Defendant”) in the Circuit Court of the First Circuit in the State of Hawaii (styled Taulava, et.al. v. Bank of Hawaii, et al., Class Action Case No. 11-1-0337-02) alleging, among other things, that Bank of Hawai’i didn’t post debit card and ATM transactions in the order that they were made, but instead posted transactions in the order of highest dollar amount to lowest dollar amount, allegedly resulting in an increase in the number of overdraft fees charged to certain accounts, according to the Bank of Hawaii overdraft fee class action settlement notice.
Generally, the Bank of Hawaii overdraft fee Class includes persons and entities who had a personal checking account with Bank of Hawai’i and were charged two or more overdraft fees on debit card or ATM transactions on a single banking day anytime between February 15, 2005 through August 15, 2010.
Overdraft fees are charged when the amount of money to be paid from your account exceeds the amount of money available in your account. Overdraft fees do not include fees charged when a check is returned unpaid. For the purposes of this settlement, a Qualifying Overdraft Fee means overdraft fees incurred by a Class Member on a single banking day on which the Class Member incurred two or more overdraft fees on debit card or ATM transactions.
The settlement is reportedly for $9 million, out of which costs of settlement administration and notice, class representative awards, and attorneys’ fees, and payments to Class Members will be made. Bank of Hawai’i will use its business records to identify each day during the class period on which a Class Member had two or more overdraft fees on his or her account and will then determine the total number of overdrafts for the Class Member on these days (the Individual Total). The Individual Totals of all Class Members will then be added to determine the total number of overdrafts for the entire Class during the class period (the Class Total). After deducting the expenses discussed above, the balance of the settlement amount will be divided by the Class Total and the resulting amount will be the reimbursement value for each overdraft. Each Class Member’s Individual Total will then be multiplied by the reimbursement value to determine individual payment amounts.
Visit www.taulavaoverdraftsettlement.com, call 1-888-579-1194 or write to Bank of Hawai’i Bank Fee Settlement Administrator, Taulava, et al. v. Bank of Hawai’i, et al., c/o GCG, Inc., P.O. Box 9768, Dublin, OH 43017-5668 for more information.
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