Bank of America to pay US$72.5 million to settle Epstein sex-trafficking lawsuit
The bank denies wrongdoing but pays to settle claims it ignored 'red flags' about Epstein's crimes.
Bank of America has reached a $72.5 million settlement in a class-action lawsuit filed by alleged victims of Jeffrey Epstein, according to court documents filed in March 2026. The lawsuit accused the bank's executives of deliberately 'ignoring red flags' about Epstein's sex-trafficking activities in order to continue providing him with banking and investment services. In a separate statement, Bank of America continued to deny that it supported Epstein's crimes but stated the resolution allows the matter to be put behind them and offers further closure for the plaintiffs. If approved by the court, the settlement will avert a potentially protracted and public trial.
This settlement marks the latest financial institution to pay out to Epstein's alleged victims, following a pattern set in 2023. JPMorgan Chase agreed to a $75 million settlement, and Deutsche Bank reportedly paid a similar $75 million sum in separate cases. The suit against Bank of America was filed by an unidentified woman on behalf of herself and other victims, arguing that the bank's facilitation was crucial to Epstein's criminal enterprise. Jeffrey Epstein, the billionaire hedge fund manager, was arrested and charged with sex trafficking of minors in July 2019 before his death in jail.
- Bank of America agrees to a $72.5 million settlement in an Epstein victim lawsuit.
- The lawsuit alleged bank executives ignored 'red flags' to provide Epstein financial services.
- The settlement follows similar 2023 payouts of $75M each by JPMorgan and Deutsche Bank.
Why It Matters
The case sets a precedent for holding financial institutions accountable for facilitating criminal enterprises through willful ignorance.