Bank of America Settles Epstein Lawsuit Over Allegedly Ignored Suspicious Account Activity
Jeffrey Epstein’s victims filed a class-action lawsuit in Manhattan federal court in New York in October 2025, alleging that Bank of America ignored $170 million in suspicious payments that Apollo Global Management co-founder Leon Black made to Epstein through accounts at the bank and failed to file legally required reports promptly. The case extends efforts to hold financial institutions accountable for allegedly facilitating sex trafficking.
The parties disclosed a settlement on March 16, 2026, and confirmed on March 27 that Bank of America would pay $72.5 million without admitting wrongdoing. Judge Jed S. Rakoff granted preliminary approval on April 2. An estimated 60 to 75 women could receive compensation, with a final hearing scheduled for August 27. Bank of America is the third major bank to settle such claims, following JPMorgan Chase and Deutsche Bank in 2023.
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The history behind this eventSenate Report Says Three Banks Ignored Epstein Red Flags
Under the Bank Secrecy Act, US banks must monitor customers and promptly file Suspicious Activity Reports with the Treasury Department’s Financial Crimes Enforcement Network when transactions may involve money laundering or other crimes. Jeffrey Epstein pleaded guilty in Florida in 2008 to state prostitution charges, including one involving a minor, yet major lenders continued handling money linked to him. The case has become a test of whether anti-money-laundering controls apply equally to ultra-wealthy clients.
Democratic staff on the Senate Finance Committee released a 67-page report on Aug. 4, 2026, alleging JPMorgan Chase, Deutsche Bank and Bank of America waited until after Epstein’s July 2019 arrest to retroactively flag thousands of questionable transactions exceeding $1.4 billion over almost two decades. It put Deutsche Bank’s delayed reports at more than $250 million and Bank of America’s at $170 million in payments from Leon Black. Ron Wyden urged federal penalties and said he plans legislation requiring tougher due diligence at large banks.
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