July 18(Reuters) - Bank 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 transactions.
It said in a filing with U.S. regulators that it would pay $9 million to the plaintiffs in the class action lawsuit filed in February..
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 Udayabhanu)