Bank of America Reaches “Settlement in Principle” with Epstein Survivors

Bank of America has reached a proposed, non-binding settlement in a major class-action lawsuit alleging the bank facilitated Jeffrey Epstein’s sex-trafficking operation. The agreement was disclosed in court records on Tuesday, March 17, 2026, marking a significant development in the ongoing legal fallout surrounding the late financier’s enablers.

The settlement, if approved by a federal judge, concludes a case that accused the nation’s second-largest bank of providing “institutional legitimacy” and ignoring blatant red flags.

The Allegations: “Ignoring the Plethora”

The lawsuit, filed in October 2025 by a plaintiff identified as Jane Doe, alleged that Bank of America knowingly benefited from and facilitated Epstein’s crimes between 2011 and 2019.

• Suspicious Transactions: The complaint alleged the bank processed hundreds of millions of dollars in transfers without adequate due diligence. This included over $158 million paid to Epstein by billionaire investor Leon Black for purported “tax and estate planning” services.
• Assisting the Network: Victims claimed the bank helped establish financial structures used to move money to traffickers and pay for the travel and living expenses of abused women and girls.
• Regulatory Failure: The suit argued the bank failed to file timely Suspicious Activity Reports (SARs) with the U.S. Treasury, only doing so after Epstein’s 2019 death, despite police reports and public scandals that had circulated for years.

Impact of the Settlement

The “settlement in principle” has immediate legal ramifications for high-profile figures involved in the discovery phase.

1. Leon Black Deposition Canceled: The settlement effectively scuttles a high-stakes deposition of Apollo Global Management co-founder Leon Black, which was scheduled for March 26, 2026. Black has consistently denied any knowledge of Epstein’s criminal conduct.
2. Trial Averted: A federal trial that was scheduled to begin on May 11, 2026, will no longer take place if the settlement receives final approval.
3. Financial Context: While the specific dollar amount of the Bank of America settlement has not yet been disclosed, it follows previous landmark settlements from JPMorgan Chase ($290 million) and Deutsche Bank ($75 million) in 2023.

What’s Next: The Approval Timeline

The settlement is currently “non-binding” and requires the signature of U.S. District Judge Jed Rakoff, who has been a vocal critic of the “blind-eye” culture at major banks.