The suit claimed the bank had enabled Epstein’s human trafficking operation
Bank of America has entered into an agreement to settle in principle a proposed class-action lawsuit claiming that the bank enabled Jeffrey Epstein’s sex trafficking operation, reported BBC News.
The suit was brought on behalf of Epstein victims. Per the Wall Street Journal, the suit alleged that Bank of America maintained a link to Epstein and did not report suspicious activities until after Epstein died in 2019.
WSJ reported that the settlement agreement is on the docket of Southern District of New York judge Jed Rakoff for approval. The settlement was reportedly reached on Thursday March 12 – the terms have not been publicized.
Both parties are expected to file settlement-related papers by March 27. Per a docket posting on Monday March 16, a hearing has been set for April 2.
According to BBC News, Bank of America’s decision to settle would be the third of its kind – JP Morgan Case agreed to a settlement of US$290 million while Deutsche Bank opted to pay out US$75 million.
Lawyer Sigrid McCawley, who represented the victims, said in a statement published by BBC News that the settlement was “one more step on the road to much deserved justice.”
A Florida woman who had reportedly been abused by Epstein initially filed the suit in October 2025. She alleged that she opened accounts at Bank of America per the instructions of Epstein’s business team.
The woman claimed that the bank knew about Epstein’s sex trafficking activities and pointed to a pattern of “incredibly alarming and erratic banking behavior” in her accounts. She also highlighted Apollo Global co-founder Leon Black’s payment of over US$150 million to Epstein for “purported 'tax and estate planning advice',” per a snippet of the suit published by BBC News.
Bank of America had argued for the suit’s dismissal as “threadbare and meritless,” per a statement published by BBC News. It claimed that it had delivered routine services to individuals with no known ties to Epstein at the time.
Both BBC News and WSJ said Bank of America did not comment on the settlement.
