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Bank of America sex trafficking settlement overview:<\/p>\n
Who: Bank of America N.A. has agreed to a $72.5 million settlement.<\/p>\n
Why: The settlement will end claims the bank helped facilitate Jeffrey Epstein\u2019s sex trafficking crimes.<\/p>\n
Where: The Bank of America class action settlement was filed in New York federal court.<\/p>\n
A $72.5 million settlement has been reached in a Bank of America class action alleging the bank facilitated Jeffrey Epstein\u2019s sex trafficking enterprise.\u00a0<\/p>\n
Plaintiff Jane Doe claims Bank of America hosted accounts in her name that Epstein and his associates used for trafficking-related payments and other \u201calarming and erratic\u201d transactions.<\/p>\n
Doe alleges the bank overlooked red flags, including her young age, foreign national status and lack of legal employment, allegedly treating her as a \u201cpreferred customer\u201d while allowing Epstein to wire tens of thousands of dollars to her.<\/p>\n
The settlement was reached in principle on March 11, 2026, following mediation sessions on Feb. 20 and March 9 with Judge Layn R. Phillips.<\/p>\n
The Bank of America class action seeks to certify a settlement class of all women and girls sexually abused by Epstein or his associates, including those who received money or something of value in exchange for sexual contact.<\/p>\n
Under the proposed settlement, class members will receive a proportional amount in cash, from a $72.5 million fund, less court-approved attorneys\u2019 fees. A fund administrator will weigh the \u201ccircumstances, severity, type and extent of the alleged abuse or trafficking, the nature and duration of the relationship with Epstein, any cooperation with government investigations or refusal to cooperate with this civil litigation,\u201d among other factors.<\/p>\n
Bank of America has not admitted wrongdoing, stating the settlement \u201callows us to put this matter behind us and provides further closure for the plaintiffs.\u201d<\/p>\n
Bank of America class action settlement shields plaintiffs from trial<\/p>\n
Class counsel stated in the motion that trial would be \u201cintrusive and burdensome\u201d for the plaintiffs and could delay any recovery by several years.<\/p>\n
The lead plaintiff initially sued Bank of America and Bank of New York Mellon Corp. Judge Jed S. Rakoff dismissed Bank of New York Mellon in January and trimmed the remaining claims against Bank of America.<\/p>\n
This sex trafficking case follows prior settlements of $290 million against JPMorgan Chase<\/a> and $75 million against Deutsche Bank.<\/p>\n