Institution denies having facilitated former financier’s crimes, but accepts settlement with victims of sex trafficking
will pay US$72.5 million to end a class action lawsuit that accuses the institution of having facilitated the sex trafficking network run by . A spokesperson for the North American bank released the information on Friday (27 March 2026). Legal documents confirm the agreement.
The lawsuit was filed by unidentified victims of the former financier. They allege that the institution provided banking services to Epstein despite evidence of illicit activities and facilitated both the formation and maintenance of the criminal network.
The lawsuit argues that the bank “knowingly and intentionally participated in Jeffrey Epstein’s sex trafficking network” when maintaining commercial relations with the entrepreneur despite “warning signs“.
The agreement with the victims, which is awaiting approval from a New York judge to be legally valid, will be definitively terminated after judicial ratification. In the conciliation term, the bank states that it disputes all the allegations presented.
In an official statement, Bank of America said that the resolution allows the bank “put this matter behind us and provides definitive closure for the perpetrators”. The institution continues to deny the accusations.
This is the 3rd agreement between banks and Epstein victims. JP Morgan and Deutsche Bank each paid $75 million in 2023 to settle similar lawsuits.
