Bank of America Reaches $72.5 Million Settlement with Jeffrey Epstein Accusers

Bank of America reaches a $72.5 million settlement with women who accused the bank of ignoring sex trafficking transactions linked to Jeffrey Epstein.

By: AXL Media

Published: Mar 28, 2026, 8:16 AM EDT

Source: Reuters

The Allegations and Judicial Rulings

The lawsuit, filed in late 2025 by a plaintiff using the pseudonym Jane Doe, accused Bank of America of violating the federal Trafficking Victims Protection Act. The plaintiffs argued that the bank processed suspicious payments despite a "plethora" of public information regarding Epstein’s criminal history. TRANSFORMATIVE ANALYSIS: A pivotal moment in the case occurred in January 2026, when U.S. District Judge Jed Rakoff rejected the bank's motion to dismiss. Rakoff's ruling suggested that routine banking services could cross the line into "knowingly benefiting" if they facilitated specific transactions, such as the $158 million paid to Epstein by Apollo Global Management co-founder Leon Black for tax and estate planning. This judicial stance has fundamentally shifted the liability landscape for banks, signaling that "willful blindness" to a high-profile client's extracurricular activities may no longer be a valid legal defense.

Financial Details and Legal Fees

The $72.5 million settlement is subject to final approval by Judge Rakoff, with a hearing scheduled for next Thursday. Under the proposed terms, the plaintiffs' legal team—led by prominent attorneys David Boies and Bradley Edwards—may seek up to 30% of the total fund, amounting to approximately $21.8 million in legal fees. The remaining funds will be distributed among class members, many of whom have expressed an urgent need for financial closure. The bank’s spokesperson emphasized that while they dispute the merits of the "threadbare" claims, the settlement was reached to "put this matter behind us."

Comparison to Industry Peer Settlements

Bank of America’s settlement is the latest in a series of payouts by major financial institutions accused of enabling Epstein’s network.