Bank of America Reaches $72.5 Million Settlement with Epstein Accusers

On Friday, March 27, 2026, court records revealed that Bank of America has agreed to pay $72.5 million to settle a proposed class-action lawsuit brought by survivors of Jeffrey Epstein. The settlement, filed in Manhattan federal court, aims to resolve claims that the bank facilitated Epstein’s sex-trafficking ring by ignoring years of suspicious financial activity.

While a “settlement in principle” was first noted on March 12, the specific dollar amount remained under seal until today’s filing.

The Core Allegations: Aiding the “Financial Structure”

The lawsuit, filed in October 2025 by a survivor using the pseudonym Jane Doe, accused the nation’s second-largest bank of prioritizing profit over its regulatory duties to report suspicious transactions.

• The “Co-conspirator” Accounts: Unlike previous lawsuits against JPMorgan and Deutsche Bank, which focused on Epstein’s personal accounts, the case against Bank of America alleged that his associates, co-conspirators, and victims were directed to use BofA accounts to move money for the trafficking venture.
• The Leon Black Connection: A central component of the case involved roughly $170 million in transfers made by billionaire Leon Black (co-founder of Apollo Global Management) to Epstein from a Bank of America account. Plaintiffs argued these transfers were “the primary means by which the sex-trafficking venture was funded.”
• Systemic Neglect: The suit claimed the bank ignored a “plethora” of red flags, including payments to victims and the use of shell companies, despite the 2008 public conviction that made Epstein a registered sex offender.

Comparison of Financial Institution Settlements

Bank of America’s $72.5 million pact is the third major settlement reached by Wall Street firms regarding their ties to the deceased financier:

Note: Lawyers for the survivors are currently appealing the dismissal of a similar lawsuit against Bank of New York Mellon.

Next Steps and Judicial Oversight

The deal still requires final approval from U.S. District Judge Jed Rakoff.

• The Hearing: Judge Rakoff has scheduled a court hearing for Thursday, April 2, 2026, to consider the fairness of the proposal.
• Distribution of Funds: If approved, the money will be paid to a class of women who were sexually abused or trafficked by Epstein or his associates between June 30, 2008, and July 6, 2019.
• No Admission of Guilt: As is standard in such settlements, Bank of America does not admit to any wrongdoing. A bank spokesperson stated the resolution “allows us to put this matter behind us and provides further closure for the plaintiffs.”

The settlement also successfully scuttled a highly anticipated eight-hour deposition of Leon Black, which had been scheduled for March 26. Black, who has consistently denied any knowledge of Epstein’s criminal conduct, is no longer required to testify in this matter.