Bank of America to pay $72.5M in Epstein-related abuse lawsuit
28 Mar 2026
Bank of America has agreed to pay $72.5 million to settle a civil lawsuit filed by women who accused the bank of facilitating their sexual abuse by Jeffrey Epstein.
The settlement was announced in court records on Friday.
It comes after lawyers for both parties informed Manhattan-based US District Judge Jed Rakoff this month that they had reached a "settlement in principle."
Bank denies facilitating sex trafficking crimes
Closure
A spokesperson for Bank of America said the settlement, while not an admission of guilt, would allow them to move past this matter and provide further closure for the plaintiffs.
The bank has maintained that it did not facilitate sex trafficking crimes.
The settlement comes after similar agreements were made with other banks over their alleged roles in Epstein's abuse network.
Lawyers could seek $21.8 million
Legal costs
The lawyers representing the plaintiffs could ask for up to 30% of the settlement amount, roughly $21.8 million, as legal fees. However, this is subject to approval by Judge Rakoff.
A court hearing has been scheduled for Thursday to consider approving this deal and bringing an end to the lengthy legal battle over Epstein's abuse case.
Plaintiff says bank ignored Epstein transactions
Allegations
The class action lawsuit, filed in October by a woman using the pseudonym Jane Doe, accused Bank of America of ignoring suspicious financial transactions related to Epstein.
The suit alleged that the bank prioritized profit over protecting victims despite having a "plethora" of information about his crimes.
However, Bank of America has denied these allegations and said it only provided routine services to people who had no known links to Epstein at the time.
Judge Rakoff ruled Doe's claims proceed
Court ruling
In January, Judge Rakoff ruled that Bank of America must face Doe's claims that it knowingly benefited from Epstein's sex trafficking and obstructed enforcement of the federal Trafficking Victims Protection Act.
The transactions flagged by Doe included payments to Epstein by Apollo Global Management's billionaire co-founder, Leon Black.
Black stepped down as Apollo's chief executive in 2021 after an outside law firm's review found he had paid Epstein $158 million for tax and estate planning purposes.
