In a statement, Bank of America maintained that it never knowingly aided Epstein in his crimes, but said that the agreement will, at the very least, allow all involved parties to begin moving forward.
Bank of America has agreed to pay $72.5 million to settle a lawsuit filed on behalf of hundreds of Jeffrey Epstein’s alleged sexual abuse victims.
According to The New York Times, the settlement is tentative and still requires approval by a judge. If approved, the agreement would be the third payment made by Bank of America to resolve similar claims. The previous cases were also litigated by the same lawyers representing the current group of plaintiffs.
The agreement was announced earlier this month, but its terms were only revealed on Friday.
The New York Times notes that the lawsuit was originally filed in U.S. District Court in Manhattan in October 2025. It broadly alleges that Bank of America financially benefited from its relationship with Epstein and regularly overlooked signs that his accounts were being used to engage in or abet the sexual exploitation of young women.
In a statement, Bank of America maintained that it never knowingly aided Epstein in his crimes, but said that the agreement will, at the very least, allow all involved parties to begin moving forward.
“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,” a Bank of America spokesperson said.
Other banks have reached similar settlements with Epstein survivors.
The New York Times reports that some of Epstein’s victims had earlier settled with JPMorgan Chase, which served Epstein for about 15 years. In its own agreement, JPMorgan Chase announced that it would pay about $290 million to survivors, whereas Deutsche Bank, which managed Epstein’s accounts for five years, offered around $75 million.
Bank of America began working with Epstein shortly after JPMorgan Chase stopped doing business with him. By that time, the New York Times states, many of Epstein’s victims were taken from countries like Russia and Ukraine. A substantial number of the women were aspiring models.
The lead plaintiff in the Bank of America lawsuit, who has not been publicly identified, said that she came to the United States from Russia in 2011, when she was about 20 years ago. The lawsuit states that Epstein abused her at least 100 times and coerced her into a “cultlike life” in which she was dependent on the disgraced billionaire for almost all her financial needs.
In 2013, Bank of America opened an account for the lead plaintiff, then age 22, at the direction of Epstein’s employees. The plaintiff claims that she spoke little English, had no job, and no discernible source of income—all factors that allegedly should have been interpreted as red flags for sex trafficking.
Sources
Bank of America reaches $72.5 million settlement in Epstein lawsuit
Bank of America to Pay $72.5 Million to Settle Lawsuit by Epstein Victims
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