Bank settlements approved

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The lawsuits stemmed from the method used to maximize debit and ATM overdraft fees by reordering transactions from the highest dollar amount to the lowest.

Associated Press

HONOLULU — A state judge has approved a $9 million settlement between Bank of Hawaii and 160,000 customers in a class-action lawsuit over improper overdraft charges.

A separate $1.2 million settlement between Central Pacific Bank and 10,000 class members was approved last month.

Lawyers say customers who were charged at least two overdraft fees for ATM and debit card transactions on the same day will receive a portion of the settlements.

Each Bank of Hawaii customer could receive about $42, while each Central Pacific Bank customer could get about $90. The amounts will vary depending on amounts of overdraft charges.

The lawsuits stemmed from the method used to maximize debit and ATM overdraft fees by reordering transactions from the highest dollar amount to the lowest.