Bank of America $4.28 Million Unpaid Vacation Settlement, Who Qualifies, How Much You Could Get and the November 23, 2026 Deadline

If you worked for Bank of America in California, New York or Illinois, left with vacation time still on the books, and never received a payout for it, a $4.28 million class action settlement may put money in your pocket. The case is Nguyen et al. v. Bank of America, N.A., No. 5:23-cv-04999-PCP, in the U.S. District Court for the Northern District of California.

You do not need to file a claim form. Eligible former employees are mailed a notice with an estimated payment, and anyone who does nothing is included unless they opt out. The settlement sets a minimum payment of $200 per class member before taxes, plus a possible additional share based on unpaid vacation value.

Official settlement website: UnusedVacationSettlement.com (no claim form exists; this is where the notice, FAQ and important dates are posted)

Key deadline: November 23, 2026 is the last day to opt out, object or submit an Adjustment Form disputing the data used for your payment estimate. It is not a deadline to file a claim. The court has not yet granted final approval; the hearing is set for December 17, 2026.

Bank of America Unpaid Vacation Settlement: Quick Facts

Detail	Information
Settlement amount	$4,280,000 (the Gross Settlement Amount)
Case	Nguyen et al. v. Bank of America, N.A.
Case number	5:23-cv-04999-PCP
Court	U.S. District Court, Northern District of California (San Jose), Judge P. Casey Pitts
Who is covered	Former Bank of America employees who worked in California, New York or Illinois, left with a positive vacation balance, and received no vacation payout
Claim form required	No. Payment is automatic unless you opt out
Official settlement website	UnusedVacationSettlement.com
Minimum payment	$200 per class member before taxes, plus a share of the rest based on unpaid vacation value
Opt-out, objection and Adjustment Form deadline	November 23, 2026
Preliminary approval	September 1, 2026
Final approval hearing	December 17, 2026, 10:00 a.m. Pacific Time, Courtroom 8, San Jose
Settlement administrator	Analytics Consulting LLC, 866-983-3173
Bank of America’s position	Denies wrongdoing. No court has ruled on the merits

Who Qualifies for the Bank of America Vacation Settlement?

You are in the settlement class if all three of these are true:

1. You were formerly employed by Bank of America and worked in California, New York and/or Illinois during the covered period for that state.
2. You had a positive vacation balance when you left. The settlement defines that as vacation accrued in your final year plus any carried over from the prior year, minus the vacation recorded as used in Bank of America’s Workday system, being greater than zero.
3. You did not receive any payout for that accrued, unused vacation when your employment ended.

The three named plaintiffs, Elle Nguyen, Ardavan Movassaghi and Etienne Bernstein, are included too.

Covered periods by state

Each period runs through September 1, 2026.

State	Covered period begins
Illinois	September 28, 2013
New York	September 28, 2017
California	September 28, 2019

Working for Bank of America during one of these periods does not by itself qualify you. If you received any vacation payout when you left, you are not in the class, even if you think it was too small. The test is whether you received a payout. The administrator uses Bank of America’s employment and pay records to determine eligibility.

Employees in other states

The settlement covers only people who worked in California, New York or Illinois. The original lawsuit relied on the laws of 43 states, but the settlement class is limited to these three.

How Much Will Class Members Receive?

The settlement does not publish an average payment or a class size, so no one can give you a single number yet. Your own estimate arrives in the notice, printed on an Adjustment Form. The plan of allocation builds it like this:

• Every class member who does not opt out receives a minimum payment of $200.
• The rest of the net fund is divided based on each person’s “Total Losses.” That figure is your unpaid vacation hours (annual accrual plus carryover, minus vacation actually used) multiplied by your hourly rate of pay from Bank of America’s records.
• California class members’ Total Losses are multiplied by 1.4, reflecting the additional penalties available under California law.
• The notice says the formula also accounts for remedies and penalties under New York and Illinois law, and that your actual payment may be higher or lower than the estimate.

Because the formula uses your pay rate and your unpaid hours, a long-tenured employee with a large unused balance should expect more than someone who left with a few days.

Where the $4.28 million goes

Not all of the $4,280,000 reaches class members. The notice lists these deductions, which Judge Pitts will rule on at the final approval hearing:

Deduction	Amount
Class Counsel attorneys’ fees	Up to one-third of the fund (up to about $1,426,667)
Class Counsel litigation expenses	About $250,000
Service awards to class representatives	Up to $10,000 each
Settlement administration	About $75,000
Employer payroll taxes	Paid from the fund; amount not stated

If the court approved all of those amounts in full, the net fund for class members would be roughly $2.5 million before employer payroll taxes. That is a simple calculation, not an official figure. A draft notice filed with the court in July listed lower expense and administration figures; this article uses the notice posted on the settlement website and mailed to class members. Class members can object to any of these deductions.

Do You Need to File a Claim Form?

No. Eligible class members do not submit a separate claim form. The administrator plans to mail one check to each participating class member at the address on file for the notice, provided the settlement becomes final.

There are two practical exceptions to “do nothing.”

If your payment estimate looks wrong

The notice includes an Adjustment Form showing the data used to estimate your payment, such as your vacation balance, dates and pay rate. If it looks wrong, complete the form and attach supporting documents (for example, pay stubs or vacation records) by November 23, 2026. Forms without supporting documents are rejected, and the administrator’s decision is final and cannot be appealed.

If you moved or never received a notice

Checks go to the address on your notice, so tell the administrator if you move. The notice goes to the last known address in Bank of America’s records, so a recent move can cause a missed notice. Contact the administrator, not the court:

• Phone: 866-983-3173
• Email: [email protected]
• Mail: Unused Vacation Settlement Administrator, P.O. Box 2004, Chanhassen, MN 55317-2004

Confirm the latest contact details on the official settlement website before sending personal information.

What Should You Do Before November 23, 2026?

You have four choices, and the right one depends on your situation.

Option	What it means	Deadline
Do nothing	You stay in the settlement and receive a check if the court grants final approval. You give up the claims the settlement releases, whether or not you cash the check	None
Opt out	No payment, but you keep your right to pursue your own wage and hour claims over these facts	November 23, 2026
Object	You tell the court what you think is unfair while staying in the settlement	November 23, 2026
Submit an Adjustment Form	You dispute the data behind your estimate, with documents	November 23, 2026

How to opt out

Send the administrator a signed letter with your name, current address, phone number and the words “I opt out of the Bank of America vacation settlement” or similar wording. It must identify Nguyen et al. v. Bank of America, N.A., you must send it yourself, and it must reach the administrator by November 23, 2026. If you opt out you receive no payment. Bank of America also has the right to cancel the settlement if 10% or more of the class in any one of the three states opts out.

How to object

If you stay in the settlement but think part of it is unfair, you can object in writing by November 23, 2026. State what you object to and why, identify the case, and include your name, address, phone number and approximate employment dates. Only people who did not opt out can object. You cannot both opt out and object.

No retaliation

The notice says Bank of America will not retaliate against anyone for the choice they make about the settlement. If you need help deciding, speak with a qualified employment attorney.

What Is the Settlement Timeline?

Date	Event
September 28, 2023	Nguyen v. Bank of America filed in the Northern District of California
July 3, 2025	Court denies class certification without prejudice (typicality)
January 20, 2026	Mediation with retired Judge Vedica Puri
July 2026	Parties sign the Joint Stipulation of Settlement
September 1, 2026	Preliminary approval granted
Early October 2026	Class notices mailed
November 2, 2026	Deadline for Class Counsel’s motions for fees, service awards and final approval
November 23, 2026	Last day to opt out, object or submit an Adjustment Form
November 25, 2026	Responses to the fee and final approval motions due
December 3, 2026	Replies due; notice status declaration due
December 17, 2026, 10:00 a.m. PT	Final approval hearing, Courtroom 8, 280 South 1st Street, San Jose

You do not have to attend the hearing, but you may. The court can move the date, so check the settlement website before relying on it.

When Will Settlement Checks Be Mailed?

Not before the court grants final approval and the judgment becomes final. The settlement says checks go out by first-class mail within 20 days after the “Effective Date.” That date comes 35 days after judgment if no one appeals, or later if someone does. In practical terms, payments are unlikely before early 2027, and an appeal would push that back. No payment date is guaranteed.

Three details about the check matter:

• Taxes. Half of each payment is treated as wages, with tax withholding and a W-2. The other half is reported on a Form 1099. Ask a tax professional how to handle it.
• Cash it quickly. If you do not cash the check within 120 days of the date on it, the money goes to the unclaimed property fund of the state where you worked for Bank of America. You remain bound by the release even if you never cash it.
• Keep your address current. Tell the administrator if you move.

What Do You Give Up by Staying In?

If you do not opt out, then once the judgment is final and Bank of America has paid in full, you cannot sue Bank of America or related entities over the claims the settlement releases. For all three states, that covers wage and hour claims from the covered period that were or could have been raised based on the facts in the complaints.

State	Laws named in the release
California	Labor Code section 227.3 (vested vacation), sections 201, 202 and 203 (final pay and waiting-time penalties), and the Unfair Competition Law
New York	Labor Law section 191
Illinois	820 ILCS 115/5 (Illinois Wage Payment and Collection Act)

The release also covers breach of contract claims and related penalties, interest and liquidated damages. Class members also waive claims they do not yet know about that arise from the same subject matter. Read the full “Summary of Released Claims” in the notice before you decide.

What Laws Govern Unused Vacation Pay?

The law on vacation payout differs by state. These summaries are general context, not findings that Bank of America violated any law.

California

California treats earned vacation as a form of wages. Labor Code section 227.3 provides that when an employment relationship ends, vested vacation must be paid at the employee’s final rate of pay, and a “use it or lose it” forfeiture of earned vacation is not allowed. Sections 201 and 202 require final wages to be paid immediately on discharge or within 72 hours of a resignation without notice (immediately on the last day if the employee gave at least 72 hours’ notice). Section 203 allows waiting-time penalties of up to 30 days of wages when final pay is willfully late. The 1.4 multiplier in the allocation plan reflects these extra California remedies.

New York

New York has no general statute requiring employers to pay out unused vacation. Whether it must be paid generally depends on the employer’s written policy or contract. Labor Law section 191 sets wage payment timing, and when a written policy promises payout of accrued vacation, courts treat that as wages owed. Labor Law section 198 can add liquidated damages. The plaintiffs rely on Bank of America’s own handbook promise to pay out accrued vacation.

Illinois

The Illinois Wage Payment and Collection Act (820 ILCS 115/5) requires employers to pay final compensation, including earned vacation, no later than the next regularly scheduled payday after separation. The Act provides for statutory interest on underpayments, and Illinois Department of Labor rules govern how employers must treat accrued vacation.

Contract and unfair competition claims

The plaintiffs also alleged breach of contract (based on the handbook) and unfair competition. A promise in a handbook can create enforceable obligations depending on the state and the policy’s language.

Class action approval rules

Under Federal Rule of Civil Procedure 23(e), a class action settlement needs court approval after notice to the class. The judge must find it fair, reasonable and adequate, which is why there is a final approval hearing and a right to object. The Class Action Fairness Act (28 U.S.C. section 1715) also requires notice of a proposed class settlement to federal and state officials, and final approval cannot come until 90 days after that notice.

Why Did Former Employees Sue Bank of America Over Unused Vacation?

Elle Nguyen filed the lawsuit on September 28, 2023. The plaintiffs allege that Bank of America failed to pay accrued, unused vacation to employees when they left, in violation of California, New York and Illinois statutes and employment contracts. The original filing relied on the laws of 43 states.

The key question was Bank of America’s own promise. In a July 3, 2025 order, Judge Pitts described the handbook as stating that eligible employees get paid for accrued, unused vacation at their final pay rate when they leave. According to that order, payout is automatic for non-exempt employees, whose time is tracked in Workday. For exempt employees, the payout depends on a manager verifying their accrued hours.

Bank of America denies the allegations. It says it has always had processes to pay out accrued vacation at separation and that it paid employees properly. It settled to avoid the cost, uncertainty and burden of continuing the case, and it admits no liability. The settlement is a compromise of disputed claims, not a finding that the bank violated the law.

How the case got to settlement

The case had a bumpy stretch. On July 3, 2025, the court denied class certification without prejudice, finding that Nguyen’s claims were not typical of the class she sought to represent. That left room for a different class representative to try again. Instead, the parties mediated on January 20, 2026 with retired Judge Vedica Puri and signed the settlement in July 2026. On September 1, 2026, the court conditionally certified the class for settlement purposes only and granted preliminary approval. It appointed Ardavan Movassaghi and Etienne Bernstein as class representatives.

Who Are the Lawyers in the Case?

The court appointed George A. Hanson, Alexander T. Ricke and Caleb J. Wagner of Stueve Siegel Hanson LLP in Kansas City, Missouri (816-714-7100) as class counsel. Hartley LLP of San Diego also appears for the plaintiffs. Bank of America is represented by O’Melveny & Myers LLP. Class members are not charged separately for class counsel’s work, since fees come from the fund if the court approves them, and you may hire your own lawyer at your own expense.

Frequently Asked Questions

Is the Bank of America $4.28 million settlement real?

Yes. It has an official settlement website, a court-approved notice, a named court and an independent administrator. The proposed settlement still needs final court approval.

Do I have to file a claim to get money?

No. If you are in the class and do nothing, you are treated as a participating class member and will be mailed a check if the settlement is finally approved.

What is the November 23, 2026 deadline for?

It is the last day to opt out, object or submit an Adjustment Form. It is not a claim-filing deadline, because there is no claim form.

What is the minimum I could get?

The plan of allocation sets a minimum of $200 per class member before taxes. Most members may get more, depending on their pay rate and unpaid hours, with a 1.4 multiplier for California.

I received some vacation pay when I left. Can I still get money?

No. The class is limited to people who received no payout for accrued, unused vacation. A partial payout puts you outside the definition.

What if I never received a notice?

Contact the administrator at 866-983-3173 or [email protected]. Do not call the court.

Should I opt out?

That is your decision and depends on your situation. Opting out means no payment from this settlement, and you would have to bring your own claim, which can be costly and uncertain. Speak with a qualified employment attorney before deciding.

Will Bank of America retaliate if I stay in or opt out?

The notice says Bank of America will not retaliate against you for any action you take regarding the settlement.

When will checks arrive?

Not before final approval and the settlement becoming effective. Early 2027 is a realistic earliest window, and appeals could delay it. No date is guaranteed.

Are the payments taxable?

Half of each payment is treated as wages (W-2, with withholding) and half is reported on a Form 1099. Consult a tax professional about your situation.

What happens if the court denies final approval?

The settlement is void, Bank of America pays nothing under it, and the case goes back to litigation.

When is the final approval hearing?

December 17, 2026, at 10:00 a.m. Pacific Time, in Courtroom 8 at 280 South 1st Street, San Jose. You do not have to attend, and the date may change.

Bottom Line

The $4.28 million Bank of America settlement is for former employees in California, New York and Illinois who left with unused vacation time and received no payout. There is no claim form, and eligible class members receive a minimum of $200 before taxes plus a possible additional share if the court grants final approval. The deadline to opt out, object or dispute your payment data is November 23, 2026, and the final approval hearing is December 17, 2026.

Check your notice, make sure your address is current, and review the official settlement website before deciding whether to stay in, opt out or object.

Sources

• Official settlement website: https://unusedvacationsettlement.com/
• Court-Approved Notice of Class Action Settlement, Nguyen et al. v. Bank of America, N.A.: https://unusedvacationsettlement.com/wp-content/uploads/2026/10/Nguyen_Notice.pdf
• Joint Stipulation of Settlement and Release with Exhibits A and B (Dkt. 87-1, filed July 22, 2026): https://unusedvacationsettlement.com/wp-content/uploads/2026/10/Nguyen-Joint-Settlement-Stipulation-and-Exhs-FILED.pdf
• Order Granting Preliminary Approval (Dkt. 95, September 1, 2026): https://unusedvacationsettlement.com/wp-content/uploads/2026/10/Nguyen-Preliminary-Approval-Order-01Sep2026.pdf
• Order re: Class Certification and Sealing, Nguyen v. Bank of America, N.A. (N.D. Cal. July 3, 2025): https://www.courtlistener.com/opinion/10623293/nguyen-v-bank-of-america-na/
• Settlement website FAQ: https://unusedvacationsettlement.com/frequently-asked-questions/
• Settlement website important deadlines: https://unusedvacationsettlement.com/important-deadlines/
• Settlement website important case documents: https://unusedvacationsettlement.com/important-case-documents/
• California Labor Code sections 201, 202, 203 and 227.3; California Business and Professions Code section 17200
• New York Labor Law sections 191 and 198
• Illinois Wage Payment and Collection Act, 820 ILCS 115/5
• Federal Rule of Civil Procedure 23(e); 28 U.S.C. section 1715

Disclaimer: This article is for general information only and is not legal or tax advice. The author is a legal content researcher, not a practicing attorney. Deadlines, amounts and court dates can change, so confirm everything on the official settlement website or with the settlement administrator.

By Israr Ahmad, Founder and Legal Content Researcher, AllAboutLawyer.com