Lawsuit accused bank of ‘absolute loyalty’ to Epstein after first charges
A Manhattan federal judge on Thursday approved a $72.5 million settlement between Bank of America and around 60 women who were trafficked or abused by Jeffrey Epstein or his associates between June 2008 and July 2019.
U.S. District Judge Jed Rakoff signed off on the agreement, calling it “a move toward accountability” for the victims. “No amount of money can ever fully compensate Epstein victims for the harm they’ve suffered,” Rakoff said.
The settlement stems from a class-action lawsuit filed in October 2025 against the Charlotte, North Carolina-based bank. The lawsuit accused Bank of America of showing “absolute loyalty” to Epstein in the years after he was first charged with sexually abusing girls and young women. It alleged the bank ignored red flags in Epstein’s transactions during that period.
According to data released by the Senate Finance Committee, Bank of America filed suspicious activity reports flagging more than $170 million in transactions between billionaire Leon Black and Epstein. The reports covered transfers between the two men after Epstein was first charged with sexually abusing girls and young women.
The settlement is one of several between Epstein’s victims and major banks that processed his transactions. JPMorgan Chase settled for $290 million, and Deutsche Bank settled for $75 million. None of the three banks have admitted wrongdoing as part of their settlements.