This page provides the answers to class members’ most frequently asked questions.
The information provided is in summary form and is not intended as a complete explanation of your rights. For full and complete information, you are directed to review carefully the Notice.
This case is filed in the United States District Court for the District of Kansas and is called March. v. Bank of America. Two related lawsuits were also filed, one in California captioned Bolanos et al. v. Bank of America, N.A., and one in New York captioned Coluzzi et al. v. Bank of America, N.A. Plaintiffs’ claims in those cases have been consolidated and are now before the United States District Court for the District of Kansas in the March litigation for the purposes of settlement. If the settlement is not approved, litigation will continue in the aforementioned cases in their respective courts.
The lawsuit is about whether Bank of America failed to pay Plaintiffs and other employees properly for certain hours they worked on the PPP. Plaintiffs allege that some exempt employees were misclassified during the PPP by performing allegedly non-exempt work on the PPP, and as a result, those employees should have received overtime compensation for such work. Plaintiffs also allege failure to pay and/or properly calculate overtime, failure to pay all promised wages, and failure to pay overtime for non-exempt employees who worked on the PPP in violation of wage payment statutes and contracts between Bank of America and these employees in all 50 states. Plaintiffs also allege failure to provide accurate wage statements and provide written notice of wage-related changes under the New York Wage Theft Prevention Act (Coluzzi only), alleged failure to provide accurate and timely wage statements, maintain accurate wage records, pay timely wages, pay all wages due to former employees, failure to provide one day’s rest in seven violation in violation of California Labor Code, and violation of the California Unfair Competition Law (Bolanos only).
Bank of America denies that it did anything wrong. However, to avoid the burden, expense, and uncertainty of continuing litigation, the parties have agreed to this settlement. The Court has not made any ruling on the merits of the Plaintiffs’ claims, and no party has prevailed in this action.
You may be eligible to receive money from the settlement if you are an individual who was currently or formerly employed by Bank of America in the United States and are identified in certain Bank of America records as someone who was: (1) classified as non-exempt and earned Paycheck Protection Program (“PPP”) incentive payments during April 1, 2020 through May 31, 2021; or (2) was classified as exempt and were redeployed to perform work that Plaintiffs alleged was non-exempt on the PPP during April 1, 2020 through August 31, 2020.
Plaintiffs and Bank of America hired experienced, neutral mediators in an effort to resolve the Action by negotiating an end to the cases by agreement (settle the cases) rather than continuing the expensive and time-consuming process of litigation. The negotiations were successful. By signing a lengthy written settlement agreement (“Agreement”) and agreeing to jointly ask the Court to enter a judgment ending the Action and enforcing the Agreement, Plaintiffs and Bank of America have negotiated a proposed Settlement that is subject to the Court’s Final Approval. Both sides agree the proposed Settlement is a compromise of disputed claims. By agreeing to settle, Bank of America does not admit any violations or concede the merit of any claims.
Plaintiffs and Class Counsel strongly believe the Settlement is a good deal for you because they believe that: (1) Bank of America has agreed to pay a fair, reasonable and adequate amount considering the strength of the claims and the risks and uncertainties of continued litigation; and (2) Settlement is in the best interests of the Class Members.
Bank of America will not retaliate against you for any actions you take with respect to the proposed Settlement.
Bank of America Will Pay $17,500,000.00 as the Gross Settlement Amount (Gross Settlement). Bank of America has agreed to deposit the Gross Settlement into an account controlled by the Administrator of the Settlement. The Administrator will use the Gross Settlement to pay the Individual Settlement Payments, Class Representative Service Payments, Class Counsel’s attorney’s fees and expenses, and the Administrator’s expenses.
The Administrator will calculate Individual Settlement Payments by a settlement allocation formula, which takes into account the individual amount of qualifying incentive payments received (non-exempt) and the individual number of qualifying overtime hours (exempt), according to Bank of America’s records. The allocation formula also takes into account additional remedies and penalties available under the state laws of California and New York. Your estimated Individual Settlement Payment is disclosed in the accompanying Adjustment Form.
After the Judgment is final and Bank of America has fully funded the Gross Settlement, Participating Class Members will be legally barred from asserting any of the claims released under the Settlement. This means that unless you opted out by validly excluding yourself from the Class Settlement, you cannot sue, continue to sue, or be part of any other lawsuit against Bank of America or related entities for penalties based on the facts as alleged in the Action and resolved by this 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.
The Administrator will send, by U.S. mail, a single check to every Participating Class Member (i.e., every Class Member who doesn’t opt-out) with the Individual Settlement Payment. To receive your check, you should immediately notify the Administrator if you move or otherwise change your mailing address.
Fifty percent (50%) of each Individual Settlement Payment is subject to deductions for applicable taxes and withholdings like any other paycheck, and for which you will receive a W-2; and the remaining fifty percent (50%) will be reported on an IRS Form 1099.
The class is represented by George A. Hanson, Alexander T. Ricke, and Caleb J. Wagner of Stueve Siegel Hanson LLP.
Submit a written and signed letter with your name, present address, telephone number, and the words “I opt out of the Bank of America wage and hour settlement” or words substantially similar thereto. The Administrator will exclude you based on any writing communicating your request be excluded. Be sure to personally sign your request, identify the Litigation as March et al. v. Bank of America, N.A., and include your identifying information (full name, address, telephone number). You must make the request yourself. If someone else makes the request for you, it will not be valid. The Administrator must be sent your request to be excluded by November 10, 2025 (forty-five (45) days after the date this Notice was mailed), or it will be invalid. This deadline may be extended if you received a re-mailed notice.
Please send your written request for exclusion to the following address:
PPP Settlement Administrator
P.O Box 2007
Chanhassen, MN 55317-2007
A Participating Class Member who disagrees with any aspect of Settlement may object. The deadline for sending written objections to the Administrator is November 10, 2025. This deadline may be extended if you received a re-mailed notice. Be sure to tell the Administrator what you object to, why you object, and any facts that support your objection. Make sure you identify the Litigation, March et al v. Bank of America, N.A., Case No. 2:23-cv-02360-EFM-TJJ (D. Kan.) and include your name, current address, telephone number, and approximate dates of employment and sign the objection.
Please send your written objection(s) to the following address:
PPP Settlement Administrator
P.O Box 2007
Chanhassen, MN 55317-2007
The Court will hold a Final Approval Hearing on December 4, 2025 at 9:00 a.m., in Courtroom 440 of the Kansas City, Kansas Federal Courthouse located at 500 State Ave, Kansas City, Kansas 66101. At the Hearing, the judge will decide whether to grant Final Approval of the Settlement and how much of the Gross Settlement will be paid to Class Counsel, Plaintiffs, and the Administrator. You can attend (or hire a lawyer to attend, at your own cost), but you don’t have to.
It’s possible the Court will reschedule the Final Approval Hearing. Any schedule changes will be posted on this website.
You may contact the Settlement Administrator at PPPSettlement@noticeadministrator.com, or call at 877-832-8955.