Home Page Potential Lawsuit First Hawaiian Bank Overdraft Fees
First Hawaiian Bank Overdraft Fees
Santa Clara, CA: Despite consumer protection laws designed to prevent abusive practices on the part of the financial industry, there are still some unethical practices that consumers fall prey to. These include issues with overdraft fees. Many banks face consumer complaints about the way overdrafts are assessed and fees applied.
First Hawaiian Bank (FHB), one of Hawaii’s oldest and largest banks, does provide its customers with overdraft services. However, its overdraft protection is discretionary. In other words, FHB won’t guarantee that it will automatically authorize and pay all transactions that put a customer’s account into overdraft.
Further, because FHB’s overdrafts are applied to customer accounts without a customer actually having to apply and be approved, customers may find themselves facing unexpected overdraft charges.
Bank accounts go into overdraft when more money has been taken out of the account than was actually in it. It can happen quite easily: a bank account has $100 in it, but the customer makes a debit card purchase for $110, pushing the account $10 into overdraft.
Allegations have been made about excessive bank overdraft fees. Specifically, customers of some banks allege that they have been the victims of excessive overdraft fees and that banks have used misrepresentation of account balances and reordering of credits and debits to push customers into overdraft, allowing the banks to collect bank overdraft fees.
Further, some customers claim they never asked their banks to provide overdraft protection they assumed that if they tried to make a purchase they could not afford the purchase would be declined. Instead, customers say more and more frequently, such purchases are being approved and the customers are left with hefty overdraft fees.
Legal HelpIf you or a loved one has suffered similar damages or injuries, please fill in our form and your complaint will be sent to a lawyer who may evaluate your claim at no cost or obligation.
Published on Jun-23-17
READ MORE [ Consumer Banking Settlements and Legal News ]
ADD YOUR COMMENT ON THIS ISSUE