Major U.S. Banks and Compliance

Bank of America has reached a tentative settlement in a Manhattan federal lawsuit accusing the bank of ignoring suspicious transactions tied to Jeffrey Epstein while he sexually abused hundreds of girls and women. Court filings made Monday, March 17, 2026, disclosed the proposed deal, though terms have not been made public and the bank declined comment. The case, brought as a putative class action for "Jane Doe" and other victims, alleged Bank of America failed to flag roughly $170 million that billionaire Leon Black paid to Epstein through a BofA account and instead helped set up the financial structure for Epstein’s sex‑trafficking enterprise. The complaint detailed how one Russian woman was allegedly controlled "financially, emotionally, and psychologically" by Epstein from 2011 to 2019, with rent and sham job income funneled through Bank of America as he abused her at least 100 times. The settlement comes amid broader public anger over how major financial institutions handled Epstein’s accounts and as newly released DOJ records show persistent, high‑level ties between Epstein and powerful figures long after his 2008 conviction, reinforcing pressure on U.S. banks over their anti–money-laundering and suspicious‑activity monitoring responsibilities.