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Bank of America to Pay $72.5M to Settle Epstein Survivors Lawsuit
The settlement covers victims sexually abused or trafficked by Epstein between 2008-2019.
Mar. 28, 2026 at 7:26pm
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Bank of America has agreed to pay $72.5 million to survivors of Jeffrey Epstein's sex-trafficking operation who allege the bank enabled and profited from his crimes. The lawsuit claims the bank failed to properly monitor accounts and did not file timely suspicious activity reports concerning questionable transactions, including transfers made by former Apollo CEO Leon Black to Epstein.
Why it matters
This settlement is the latest in a series of high-profile cases against major banks that allegedly enabled or profited from Epstein's sex-trafficking operation. It highlights the ongoing legal battles and public scrutiny faced by financial institutions over their relationships with disgraced individuals like Epstein.
The details
The lawsuit alleges Bank of America provided banking services to Epstein and his sex-trafficking operation, along with accounts used by victims and associates like Ghislaine Maxwell and Leon Black. The plaintiffs claim the bank failed to properly monitor accounts and did not file timely suspicious activity reports, including $170 million in transfers from Black's account described as 'tax and estate planning advice' that was allegedly used to fund Epstein's trafficking enterprise.
- The settlement covers the period from June 30, 2008 to July 6, 2019.
- A hearing will be held in April for the judge to determine whether to approve the settlement.
The players
Bank of America
The nation's second-largest bank that has agreed to pay $72.5 million to settle the lawsuit brought by Epstein's survivors.
Jeffrey Epstein
The disgraced financier who operated a sex-trafficking enterprise that victimized dozens of women.
Leon Black
The former CEO of Apollo Global Management who allegedly made $170 million in transfers from his Bank of America account to Epstein, which the plaintiffs claim was used to fund Epstein's trafficking operation.
What they’re saying
“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.”
— Bank of America spokesperson
What’s next
U.S. District Judge Jed Rakoff, who is presiding over the case, will hold a hearing in April to determine whether to approve the $72.5 million settlement between Bank of America and the Epstein survivors.
The takeaway
This settlement is the latest in a series of high-profile cases against major banks that allegedly enabled or profited from Jeffrey Epstein's sex-trafficking operation. It underscores the ongoing legal battles and public scrutiny faced by financial institutions over their relationships with disgraced individuals like Epstein, and the need for stronger oversight and accountability measures to prevent such abuses in the future.
