July 18Bank of Hawaii Corp said it
reached a tentative settlement to pay $9 million in a class
action law suit regarding overdraft fees charged on debit card
It said in a filing with U.S. regulators that it would pay
$9 million to the plaintiffs in the class action lawsuit filed
The Honolulu, Hawaii-based company said that the settlement
was subject to court approvals.
The amount would be used to refund class members and to pay
their legal costs, in exchange for a complete release of all
claims asserted against the Company.
Shares of the company closed at $44.92 on Monday on the New
York Stock Exchange.
(Reporting by Aditi Sharma in Bangalore; Editing by Prem