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Home Court filings Bofa Ca Unemployment In re: Bank of America California Unemployment Benefits Litigation — S.D. Cal., No. 21-md-02992 Exhibit DX 186 — In re Bank of America California Unemployment Benefits Litigation (Dkt. 693-6, S.D. Cal. No. 3:21-md-02992)

Court filing

Exhibit DX 186 — In re Bank of America California Unemployment Benefits Litigation (Dkt. 693-6, S.D. Cal. No. 3:21-md-02992)

Filed February 20, 2026 in In re Bank of America California Unemployment Benefits Litigation; one of 1415 filings from this case.

Record facts

CourtU.S. District Court for the Southern District of California
Filed2026-02-20

U.S. District Court for the Southern District of California · No. 3:21-md-02992-GPC-MSB · Doc. 693-6 · 2026-02-20 · Docket on CourtListener

Full text

DX 186
REDACTED VERSION 
OF
DOCUMENT 
SOUGHT TO
BE SEALED 
PURSUANT TO
STIPULATED
PROTECTIVE ORDER
Case 3:21-md-02992-GPC-MSB     Document 693-6     Filed 02/20/26     PageID.59518 
Page 1 of 8

1
2       *** CONFIDENTIAL - PROTECTIVE ORDER ***
3          UNITED STATES DISTRICT COURT
4         SOUTHERN DISTRICT OF CALIFORNIA
5  ----------------------------------x
6  IN RE BANK OF AMERICA        Case No.
7  CALIFORNIA UNEMPLOYMENT       3:21-md-02992
8  BENEFITS LITIGATION         GPC-MSB
9  ----------------------------------x
10
11
12        VIDEOTAPED STENOGRAPHIC DEPOSITION OF:
              FAIZ A. AHMAD
13          Wednesday, January 29, 2025
             New York, New York
14            10:07 a.m. - 5:38 p.m.
           ***HYBRID DEPOSITION***
15
16
17
18
19
20
21          Reported stenographically by:
       Richard Germosen, FAPR, CA CSR No. 14391
22       RDR, CRR, CCR, CRCR, CSR-CA, NYACR, NYRCR
       NCRA/NJ/NY/CA Certified Realtime Reporter
23        NCRA Realtime Systems Administrator
             Job No. 10155736
24
25
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Page 1
Case 3:21-md-02992-GPC-MSB     Document 693-6     Filed 02/20/26     PageID.59519 
Page 2 of 8

1         01.29.25 | FAIZ A. AHMAD
2     A.   I do.
3     Q.   It says, just like the draft
4  version we just looked at in the prior
5  exhibit, it states:
Pricing, eliminate
6  revenue share with California on card
7  balances.
8        Do you see that?
9     A.   I do.
10     Q.   And that was presented to the MTM;
11  correct?
12      ATTORNEY RIFFEE:
Objection.
Form.
13     A.   Well, one thing I'd like to clarify
14  is, we use MTM as shorthand at the bank for
15  senior executives.
I still can't tell you
16  whether we presented this to the MTM, but if
17  we did present it, it would have been to most
18  likely a subset of the MTM.
19     Q.   And what does "on card balances"
20  refer to?
21     A.   It would just be the loaded value
22  of a card.
23     Q.   That's the amount of UI benefits
24  that the state would send to the bank;
25  correct?
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Page 88
Case 3:21-md-02992-GPC-MSB     Document 693-6     Filed 02/20/26     PageID.59520 
Page 3 of 8

1         
  
  
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Page 241
Case 3:21-md-02992-GPC-MSB     Document 693-6     Filed 02/20/26     PageID.59521 
Page 4 of 8

1         
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Page 242
Case 3:21-md-02992-GPC-MSB     Document 693-6     Filed 02/20/26     PageID.59522 
Page 5 of 8

1         
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Page 243
Case 3:21-md-02992-GPC-MSB     Document 693-6     Filed 02/20/26     PageID.59523 
Page 6 of 8

1         01.29.25 | FAIZ A. AHMAD
2  being three, not five.
3     Q.   So you remember approving this?
4     A.   Yes.
5     Q.   Okay.
And were those filtering
6  rules approved by the MTM group?
7      ATTORNEY RIFFEE:
Objection.
Form.
8     A.   No.
9     Q.   Were these filtering rules approved
10  by Montag?
11      ATTORNEY RIFFEE:
Object to the form.
12     A.   These filtering rules were approved
13  by the GBRC, GMRC.
14     Q.   Was Montag aware of these filtering
15  rules?
16     A.   When we presented to the GBRC,
17  GMRC.
18     Q.   Was Moynihan aware of these filter
19  rules?
20      ATTORNEY RIFFEE:
Object to the form.
21     A.   We never presented to Brian on
22  these rules.
23     Q.   So you don't know?
24     A.   No, so I don't know.
25     Q.   Was the Board of Directors of Bank
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Page 244
Case 3:21-md-02992-GPC-MSB     Document 693-6     Filed 02/20/26     PageID.59524 
Page 7 of 8

1
2         C E R T I F I C A T E
3         I, RICHARD GERMOSEN, Fellow of the
4  Academy of Professional Reporters, stenographic New
5  Jersey Certified Court Reporter, New Jersey Certified
6  Realtime Court Reporter, California Certified
7  Shorthand Reporter, California Certified Realtime
8  Reporter, NCRA Registered Diplomate Reporter, and
9  NCRA Certified Realtime Reporter, do hereby certify:
10         That FAIZ A. AHMAD, the witness whose
11  deposition is hereinbefore set forth, having been
12  duly sworn, and that such deposition is a true
13  record of the testimony of said witness.
14         I further certify that I am not related
15  to any of the parties to this action by blood or
16  marriage, and that I am in no way interested in the
17  outcome of this matter.
18         IN WITNESS WHEREOF, I have hereunto set
19  my hand this 3rd day of February 2025.
20
21  ________________________________________________
22  RICHARD GERMOSEN,
  FAPR, RDR, CRR, CCR-NJ, CRCR, CSR-CA, CCRR-CA,
23  NYACR, NYRCR
  LICENSE NO. 30XI00184700
24  LICENSE NO. 30XR00016800
  California CSR No. 14391
25  California CRR No. 198
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Faiz A. Ahmad
Confidential - Protective Order
In Re Bank of America CA Unemployment Benefits Litigation
www.aptusCR.com
Page 388
Case 3:21-md-02992-GPC-MSB     Document 693-6     Filed 02/20/26     PageID.59525 
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Our copy
gov.uscourts.casd.709615.693.6.pdf
Original
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  1. Exhibit DX 189 — In re Bank of America California Unemployment Benefits Litigation (Dkt. 693-9, S.D. Cal. No. 3:21-md-02992)same docket · 2026-02-20
  2. Notice of Change - Bank of America - JSMsame docket · 2026-02-20
  3. BANA EDD Levine Hoyle Decl. to Reply ISO MTE Draftsame docket · 2026-02-20
  4. BANA EDD - Levine Hoyle Aoe ISO Mtesame docket · 2026-02-20
  5. Response to Additional Statement of Facts — Bofa Ca Unemployment (Dkt. 693.2)same docket · 2026-02-20
  6. BANA EDD East Hoyle Decl. to Reply ISO MTE Draftsame docket · 2026-02-20
  7. Reply to Response to Motion re 571 Motion to Exclude Testimony — In re BofA Unemployment Litigation (Dkt. 691)same docket · 2026-02-20
  8. BANA EDD - Cloninger Hoyle Aoe ISO Mtesame docket · 2026-02-20
  9. MOTION to File Documents Under Seal — Bofa Ca Unemployment (Dkt. 689)same case · 2026-02-20
  10. Exhibit HX 40 — In re Bank of America California Unemployment Benefits Litigation (Dkt. 681-3, S.D. Cal. No. 3:21-md-02992)same case · 2026-02-20
  11. BANA EDD Minnucci Hoyle Decl. to Reply ISO MTE Draftsame docket · 2026-02-20
  12. 2 reason I did not focus on this in my report is that many 11:51AMsame docket · 2026-02-20
  13. BANA EDD - Brys Aoe re Sj Replysame docket · 2026-02-20
  14. BANA EDD - Minnucci Hoyle Aoe ISO Mtesame docket · 2026-02-20
  15. ORDER Granting Bank of America, N.A.'s Motion to Seal (Dkt. No. 670 — Bofa Ca Unemployment (Dkt. 697)same case · 2026-02-24
  16. ORDER Granting Defendant Bank of America, N.A.'s Motion to Seal Documents (Dkt.… — Bofa Ca Unemployment (Dkt. 699)same case · 2026-02-24
  17. ORDER Granting Defendant Bank Of America, N.A.s Motion to Seal (Dkt. No. 676 ) — Bofa Ca Unemployment (Dkt. 701)same case · 2026-02-24
  18. ORDER Granting Defendant Bank Of America, N.A.s Motion to Seal (Dkt. No. 679 ) — Bofa Ca Unemployment (Dkt. 703)same case · 2026-02-24
  19. ORDER Granting Bank Of America, N.A.s Motion to Seal (Dkt No. 687 ) — Bofa Ca Unemployment (Dkt. 705)same case · 2026-02-24
  20. Order Granting Bank Of America, N.A.s Motion to Seal (Dkt. No. 682 ) — Bofa Ca Unemployment (Dkt. 707)same case · 2026-02-24

Part of: In re: Bank of America California Unemployment Benefits Litigation — S.D. Cal., No. 21-md-02992 · U.S. District Court for the Southern District of California · Pandemic unemployment insurance · Lender and platform litigation · Exhibits and declarations · 2026 · Court filings

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