CHARLOTTE — Bank of America has reached a proposed, non-binding settlement in a class-action lawsuit alleging the bank helped facilitate Jeffrey Epstein’s sex trafficking operation.
The agreement, disclosed in court records Tuesday, follows claims that the financial institution provided support and institutional legitimacy to the late disgraced financier, ABC reported.
[ ALSO READ >> Epstein's longtime accountant testifies on his wealth and business ties ]
The lawsuit, filed in October 2025, accused Bank of America of ignoring suspicious transactions and failing to alert authorities to Epstein’s crimes. Lawyers for both the bank and the victims reached a settlement in principle, though the specific terms have not been disclosed and require approval from a federal judge.
U.S. District Judge Jed Rakoff had previously scheduled the case to go to trial on May 11. According to the court docket, a hearing to consider the settlement proposal is now set for April 2 in federal court in New York. While the bank declined to comment on the development, attorneys for the victims described the settlement as a significant step for those involved.
The proposed resolution is expected to cancel a deposition for Leon Black, the co-founder of Apollo Global Management. Black was originally scheduled to sit for questioning on March 26. He resigned from his role at Apollo in 2021 following an inquiry into his relationship with Epstein. That inquiry found Black had paid Epstein $158 million for tax and estate planning advice.
Black has consistently denied having any awareness of the financier’s criminal activities. In a statement released in January, his attorney maintained there was no truth to the allegations against Black.
The lawsuit against Bank of America claimed the institution failed to alert law enforcement about the payments and other transactions before it was too late.
Bank of America previously argued that the lawsuit should be dismissed. The bank’s lawyers stated in a November 2025 filing that the suit attempted to expand bank liability for providing routine services to customers. While the bank emphasized its opposition to trafficking in all forms, it maintained the services provided were ordinary and one or more steps removed from a trafficker.
VIDEO: Sex trafficking survivor sues hotel company
This browser does not support the video element.