Bank of America has reached a settlement with survivors who alleged the bank facilitated Jeffrey Epstein's sexual abuse, according to court filings reviewed by multiple outlets including the Financial Times and The Guardian.
Lawyers for the bank and the plaintiffs informed Manhattan-based US District Judge Jed Rakoff of a "settlement in principle" during a 12 March telephone call, a court filing shows. The settlement remains non-binding and financial terms have not been disclosed.
The lawsuit alleged that Bank of America benefited from its ties to Epstein and enabled his sex-trafficking operation. It is one of several civil actions brought against financial institutions that maintained banking relationships with Epstein, who died in a federal detention facility in 2019 while awaiting trial on trafficking charges.
JPMorgan Chase settled a similar lawsuit brought by Epstein survivors for $290 million in 2023, while Deutsche Bank agreed to a $75 million settlement the same year. Bank of America's settlement terms, when finalised, will be subject to court approval.
