Bank of America has agreed to pay $72.5 million (€62.8 million) to resolve a class-action lawsuit accusing the bank of enabling Jeffrey Epstein’s sex-trafficking operations, court filings show.
The suit, brought by an unnamed woman on behalf of herself and other alleged victims, contends the bank ignored red flags and suspicious transactions linked to Epstein so it could continue providing him financial services. Plaintiffs say the bank prioritized profits over protecting potential victims. Bank of America has denied the allegations, saying the institution did not facilitate sex trafficking, but a spokesperson added the settlement would offer closure to the plaintiffs.
The proposed agreement must be approved by a U.S. district judge; a hearing is scheduled. If approved, the deal would spare both sides a lengthy trial.
The settlement follows similar resolutions by other lenders. In 2023, JPMorgan and Deutsche Bank each agreed to pay $75 million to settle comparable lawsuits alleging failures to detect or act on warning signs in accounts tied to Epstein.
Who was Jeffrey Epstein?
Epstein was a New York financier accused of running a yearslong sex-abuse ring involving underage girls. He was convicted in 2008 of soliciting sex from minors and died by suicide in a New York jail in 2019 while awaiting trial on additional sex-trafficking charges.
The 2025 release of a large archive of evidence related to Epstein’s activities prompted worldwide fallout, including arrests in the U.K. and disclosures about his connections to prominent individuals in the U.S. and elsewhere.
Edited by: Wesley Dockery