Financial institution of America has agreed to pay $72.5 million to settle a class-action lawsuit filed on behalf of ladies who say they have been victims of Jeffrey Epstein’s intercourse trafficking operation, reported CBS Information. The settlement was filed in Manhattan federal courtroom on March 27.
The financial institution denies wrongdoing. The settlement nonetheless requires approval from U.S. District Decide Jed Rakoff, with a listening to scheduled for April 2.
What the Jeffrey Epstein victims’ lawsuit alleged
The lawsuit, filed in October 2025 below case quantity 25-cv-08520 within the U.S. District Courtroom for the Southern District of New York, accused Financial institution of America of offering banking and monetary providers to Epstein and his associates whereas ignoring clear warning indicators.
Plaintiffs alleged the financial institution didn’t file required suspicious exercise stories with federal authorities till after Epstein’s dying in August 2019, per CBS Information.
The lead plaintiff, recognized solely as “BOA Jane Doe,” stated she was residing in Russia when she met Epstein in 2011 and was coerced into what she described as a cult-like life. In accordance with courtroom filings, Epstein paid her hire and revenue by way of a Financial institution of America account whereas controlling her financially, emotionally, and psychologically, sexually abusing her on at the least 100 events over eight years.
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A central ingredient of the lawsuit concerned billionaire financier Leon Black, co-founder of Apollo International Administration. The swimsuit alleged that $170 million Black paid to Epstein from a Financial institution of America account, described as compensation for “tax and estate planning advice,” represented suspicious transactions the financial institution ought to have flagged.
Black was not a defendant within the lawsuit however was described as a “critical witness” by Sigrid McCawley, the lead legal professional for the victims. Black had been scheduled to be deposed on the identical day the settlement particulars have been filed with the courtroom.
Financial institution of America’s place on Epstein lawsuit
“While we stand by our prior statements made in the filings in this case, including that Bank of America did not facilitate sex trafficking crimes, this resolution allows us to put this matter behind us and provides further closure for the plaintiffs,” the financial institution stated in a press release cited by NBC Information.
In February 2026, Decide Rakoff had allowed key claims to proceed, ruling that allegations of the financial institution’s “reckless disregard” have been adequate to help the case shifting ahead. The settlement was reached in precept on March 12, and its phrases have been made public on March 27.
Which Epstein victims are lined and what occurs subsequent
The settlement covers all girls sexually abused or trafficked by Epstein or his associates between June 30, 2008, and July 6, 2019. Attorneys within the case stated they’re conscious of at the least 60 girls victimized throughout that interval.
Plaintiffs’ attorneys, together with McCawley of Boies Schiller Flexner, might search as much as 30% of the fund, roughly $21.8 million, in authorized charges. The remaining quantity can be distributed amongst class members after courtroom approval.
“Today’s resolution of the case against Bank of America is one more step on the road to much deserved justice,” McCawley stated.
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How this compares to prior Wall Avenue Epstein payouts
- JPMorgan Chase: Agreed to pay Epstein victims $290 million in June 2023, per NPR. JPMorgan individually paid the U.S. Virgin Islands $75 million later that 12 months.
- Deutsche Financial institution: Agreed to pay victims $75 million in 2023, across the similar time as JPMorgan’s settlement.
- Financial institution of America: $72.5 million settlement, pending courtroom approval April 2.
As with the prior settlements, Financial institution of America didn’t admit legal responsibility. The sample throughout all three establishments has been the identical: settle, deny wrongdoing, and transfer on.
What Financial institution of America’s lawsuit settlement means for traders
The $72.5 million determine will not be materials to Financial institution of America’s funds. The financial institution reported $7.6 billion in web revenue within the fourth quarter of 2025 alone, making the settlement price roughly three days of revenue.
The extra vital query for traders is reputational. Financial institution of America is the final of the key Wall Avenue establishments to settle Epstein-related claims. With this litigation shifting towards closure, the authorized overhang on the inventory from this case is successfully resolved pending Rakoff’s approval.
The broader sample throughout all three banks is notable. Every establishment processed transactions for Epstein over a few years. Every was accused of ignoring crimson flags. Every finally selected to settle slightly than go to trial. None admitted wrongdoing.
The settlements collectively symbolize a whole bunch of hundreds of thousands of {dollars} paid to victims and their attorneys. However no financial institution has confronted prison prices or regulatory motion straight tied to Epstein-related compliance failures.
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