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Bank of Hawaii settles overdraft fee class-action lawsuit for $9 million
Law Firm News |
2011/07/20 16:22
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A tentative $9 million settlement with Bank of Hawaii requires the bank to pay each of its customers who had more than one overdraft fee in a day over the last five years.
Bank of Hawaii, the state's second-largest bank, reached the class-action lawsuit settlement in response to claims that the bank improperly charged overdraft fees on debit card transactions, the Honolulu Star-Advertiser reported Tuesday.
The lawsuit accused the bank of systematically re-ordering debit card transactions from highest dollar amount to lowest dollar amount, a practice that allowed the bank to deplete customers' available funds as quickly as possible while maximizing the number of overdraft fees.
The $9 million will be put in a settlement fund used to refund customers and pay attorneys' fees, administrative and other costs in exchange for a complete release of all claims against the company, the bank said. It's unclear how many Bank of Hawaii customers are eligible for refunds.
Similar lawsuits against American Savings Bank and Central Pacific Bank, the state's third- and fourth-largest banks, also are pending. |
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Regulators shut 4 small banks in 3 states
Law Firm News |
2011/07/15 09:22
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Regulators on Friday shut down four small banks in three states, boosting to 55 the number of U.S. bank failures this year.
The overall pace of closures, however, has slowed this year as banks work their way through piles of bad debt. A slow, but improving U.S. economy also has helped stem the number of bank casualties this year. By this time last year, regulators had closed 96 banks.
The Federal Deposit Insurance Corp. seized High Trust Bank in Stockbridge, Ga., One Georgia Bank in Atlanta, First Peoples Bank in Port St. Lucie, Fla., and Summit Bank in Prescott, Ariz.
The action brings to 16 the number of lenders to collapse this year in Georgia. In Florida, the tally is now seven, while in Arizona it's now two.
High Trust had about $192.5 million in assets and $189.5 million in deposits, while One Georgia had about $186.3 million in assets and $162.1 million in deposits. First Peoples had about $228.3 million in assets and $209.7 million in deposits. |
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Orange County judge to restrict Costa Mesa layoffs
Law Firm News |
2011/07/06 09:43
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An Orange County judge said Tuesday that she will issue a court order to restrict Costa Mesa from laying off nearly half of the city's workforce and outsourcing jobs.
Superior Court Judge Tam Nomoto Schumann said she would grant the Orange County Employees Association's request for a preliminary injunction. But the city has until Friday to file objections before she issues her ruling.
The union filed suit in May, arguing that the city's plan to outsource municipal jobs violates state law and the union contract.
In March, the Costa Mesa City Council majority voted to outsource jobs to mostly private companies in a drastic move to plug a $15 million budget hole.
Soon afterward, 213 of 450 employees got layoff notices that would take effect in September.
Union spokeswoman Jennifer Muir said the court order would protect employees' jobs until the case against the city goes to trial.
Schumann said the city must follow proper procedures when laying off workers, but she didn't explain what those procedures are.
Assistant City Attorney Harold Potter contends the city has been following procedures while pursuing austerity measures.
The judge's ruling won't stop the city from exploring outsourcing options, he said. |
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Kansas court system works to improve efficiency
Law Firm News |
2011/06/23 05:39
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Judges and court workers have completed the data-collection part of a study aimed at making Kansas' court system more efficient.
The Wichita Eagle reported that the data will be analyzed by the National Center for State Courts. That national nonprofit group works to improve the justice system and lobbies on behalf of courts at the federal level.
The results of the $200,000 consultant study of how judges and other court workers spend their time will go to a panel that will recommend changes if they are needed.
Kansas Supreme Court Chief Justice Lawton Nuss said the panel also is gathering public input on ways to improve the courts. The two initiatives are called "Project Pegasus," after the winged horse in Greek mythology.
The goal is to prevent situations like last year when courts were closed four days.
"When our budget is cut or when we don't have enough money, it is our people who suffer, they're the ones who have to get sent home," Nuss told members of the Wichita Pachyderm Club, a Republican group, this past week. "Unfortunately that also comes at the expense of Kansas citizens, because when we have no money and we have to close the courts, the citizens no longer have access to justice."
Nuss said most of the consultant study is being paid for mostly from salary and benefit savings accrued after appellate Judge Jerry Elliott died in April of last year and former Supreme Court Chief Justice Robert Davis died last August. |
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