PPP Settlement

If you do nothing, you will be a Participating Class Member eligible for an Individual Settlement Payment. In exchange, you will give up your right to assert the claims against Bank of America that are covered by this Settlement (Released Claims).

If you don’t want to fully participate in the proposed Settlement, you can opt-out of the Class Settlement by sending the Administrator a written Request for Exclusion. Once excluded, you will be a Non-Participating Class Member and no longer eligible for an Individual Settlement Payment. Non-Participating Class Members cannot object to any portion of the proposed Settlement. See Section 7 of the Notice.

All Class Members who do not opt-out (“Participating Class Members”) can object to any aspect of the proposed Class Settlement. The Court’s decision whether to finally approve the Settlement will include a determination of how much will be paid to Class Counsel and Plaintiffs who pursued the Litigation on behalf of the Class.

The mailed Notice is accompanied by an Adjustment Form that estimates your Individual Settlement Payment and provides the data underlying that calculation. If you believe the underlying data is incorrect, you may submit a completed form and supporting documentation to the Claims Administrator. Forms without supporting documentation will be rejected, and the Claims Administrator will have sole and final, non-reviewable, discretion to resolve your dispute.

The Court’s Final Approval Hearing is scheduled to take place on December 4, 2025. You don’t have to attend but you do have the right to appear (or hire an attorney to appear on your behalf at your own cost).