Bank of America has reached a tentative settlement in a Manhattan federal lawsuit that accuses the financial giant of looking the other way on suspicious transactions tied to Jeffrey Epstein, according to recent court filings. The development surfaced Monday, just as lawyers were gearing up for a scheduled deposition of billionaire financier Leon Black in the case.
The proposed deal came to light in filings in Manhattan federal court, according to Boston 25 News, which carried an Associated Press report. The terms of the settlement have not been disclosed, and a Bank of America spokesperson declined to comment, the outlet reported.
What the suit says Bank of America did
The complaint, filed in October on behalf of a woman identified only as Jane Doe, alleges that Bank of America ignored obvious red flags and helped maintain the financial structures Epstein used to pay and control victims. According to court filings summarized by Courthouse News, Doe says she opened a Bank of America account at Epstein's direction, received rent and payroll deposits through that account, and was kept under both financial and psychological control while Epstein allegedly abused her from 2011 through 2019.
Leon Black's role and the delayed deposition
Victims' lawyer Sigrid McCawley has called Leon Black a "critical witness" in the case. Judge Jed S. Rakoff agreed to postpone Black's deposition for 10 days after the parties reported they were close to a settlement, according to legal reporting. The October complaint also alleged that Black paid Epstein roughly $170 million through a Bank of America account, a detail reported by The Associated Press.
The broader fight over banks and Epstein
This lawsuit is part of a wider legal campaign targeting major banks over their relationships with Epstein. Other large lenders have faced similar accusations and reached settlements in recent years. Financial reporting has highlighted prior deals and regulatory scrutiny involving big institutions, putting the Bank of America case in a larger debate over how closely banks monitor high-risk clients; for background, see coverage by CNBC and The Guardian.
What happens next in court
The settlement remains tentative and still has to be formalized and approved in court. If it goes through, it would mark a significant civil outcome for survivors who have been pressing for accountability for years. At the same time, Judge Rakoff has warned the lawyers involved that he would be "extraordinarily disappointed" if the matters never reached trial, according to reporting by Law360.
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