TAKING SOCIAL RESPONSIBILITY

Last week and today I read in the Honolulu newspaper: "The Star-Advertiser" about a 9 million dollar settlement in a class-action suit between Bank of Hawaii and their customers. I find this to be good news on three levels, which makes it a perfect example of Divine Mothering and the values I aim to found Telluselle Living Center with. In short, Bank of Hawaii had made a system of recording withdrawals and purchases so that the majority of debit-card holders had to pay overdraft fees, although there was no overdraft except for the ones that the bank created. This obviously provided BoH with more short term generated income, but would hardly provide them with a sustainable cash-flow, less keep up a previous very good reputation.

First, since I was a customer last year, this allows me personally to get reimbursed for all the improper fees that was put on my account before I closed it. (All eligible customers will be contacted in a couple of months).

Second, since the bank decided to agree on settling, it shows that they take responsibility for their mistakes, aim to correct them and thereby restore their customers' trust. This might even improve their image. We all make mistakes, whether they be conscious or a result of ignorance, a negative view on humans and/or negligence. What breaks us or makes us, is how we deal with them.

Third, it generates better credit scores for their customers which in turn becomes a more sustainable solution and lays the foundation for a positive economic growth that in turn will benefit both their customers and BoH.

Making decisions today will create the future tomorrow. Which scenarios are your options?

Good lawyers, that I hope others will learn from!