Bank of America has reached a settlement with a group of women who alleged the bank facilitated their sexual abuse by Jeffrey Epstein, according to court filings reviewed by multiple outlets including the Guardian and Bloomberg.
Lawyers for both parties informed Manhattan-based US District Judge Jed Rakoff of a "settlement in principle" during a telephone call on 12 March. The agreement is described in court records as proposed and non-binding, and financial terms have not been made public.
The lawsuit alleged that Bank of America benefited from its ties to Epstein and knowingly enabled his sex trafficking operation. Counsel for the survivors described the settlement as "one more step" toward justice.
Bank of America is the latest financial institution to resolve litigation stemming from Epstein's conduct. JPMorgan Chase settled a similar lawsuit brought by the US Virgin Islands and a group of survivors in 2023 for a combined $365 million, while Deutsche Bank agreed to pay $75 million to settle a separate survivor class action the same year.
