Settlement Reached: Bank of America and Epstein Victims
Bank of America has reached a settlement agreement in a proposed class-action lawsuit. This lawsuit was filed by victims of Jeffrey Epstein who accused the bank of facilitating the deceased financier’s sex-trafficking operation. The settlement was recorded in court documents filed on March 17, 2026.
The agreement in principle was noted in the federal court docket on a Monday. However, the terms of the settlement were not immediately disclosed and must be approved by U.S. District Judge Jed Rakoff in Manhattan. The details are expected to be filed with the court on March 27. A representative from Bank of America declined to comment on the matter. It’s worth noting that the bank has consistently denied any wrongdoing.
The lawsuit, which was filed in October 2025, alleged that Bank of America “knowingly provided the financial support and the veneer of institutional legitimacy” to Epstein. It also claimed that the bank ignored suspicious transactions. According to the suit, Apollo Global Management co-founder Leon Black transferred $170 million to Epstein from Bank of America accounts. Lawyers for the victims alleged that these transfers were “the primary means by which the sex-trafficking venture was funded.”
The timing of the settlement will likely allow Black to avoid a scheduled March 26 deposition. Black, who was not named as a defendant, has consistently denied any wrongdoing. Senate Finance Committee Ranking Member Ron Wyden called the settlement “a step towards justice and a vindication” of his staff’s investigation into how major Wall Street banks enabled Epstein’s crimes.
Source: Bloomberg