Bank of America has agreed to a $72.5 million settlement to resolve a class-action lawsuit brought by victims of Jeffrey Epstein. The lawsuit alleged that Bank of America enabled Epstein's sex trafficking enterprise by overlooking numerous suspicious financial activities. The agreement, which was reached to avoid a trial, was announced on March 27, 2026, and a judge advanced the deal in early April 2026.
The lawsuit, filed in October, accused Bank of America of ignoring red flags, including $170 million in payments from Epstein's associate Leon Black to Epstein through Bank of America accounts, purportedly for "tax and estate planning advice." The plaintiff, identified as "BOA Jane Doe," claimed she was coerced into a "cult-like life" by Epstein after meeting him in Russia in 2011. She was allegedly abused over 100 times between 2011 and 2019, receiving rent and income from a phony job through a Bank of America account while Epstein used her immigration status to control her.
Bank of America has denied all liability and knowledge of Epstein's trafficking, stating that it provided routine banking services. However, a judge noted the complaint plausibly alleged the bank "recklessly disregarded" information indicating sex trafficking, citing widespread media coverage and prior lawsuits against Epstein. The bank also allegedly provided "non-routine services" like preferred customer status to victims without clear income. Senator Ron Wyden stated the settlement is a "vindication of my staff's investigation into how major Wall Street banks enabled Epstein's crimes."
The $72.5 million settlement will compensate women trafficked by Epstein between June 2008 and July 2019. Plaintiff attorneys emphasized the "life-changing" compensation for many victims and the benefit of avoiding re-traumatizing trial testimony. The settlement is awaiting final judicial approval, after which a fund administrator will be appointed, and a website will be created for victims to access information. The bank also agreed to cover litigation and claims administration costs, which will not reduce the amount distributed to class members.
