Bank of America has reached a proposed, non-binding settlement in a lawsuit alleging the bank ignored suspicious financial transactions involving Jeffrey Epstein. According to ABC News, the class-action complaint alleged that Bank of America “knowingly provided the financial support and the veneer of institutional legitimacy” to Epstein. “The proposed settlement was revealed in filings in Manhattan federal court on Monday, the same day that billionaire financier Leon Black was originally scheduled to be deposed in the case,” the Associated Press stated. Bank of America has reached a proposed, non-binding settlement in a lawsuit that alleged the bank helped facilitate Jeffrey Epstein’s trafficking operation, according to court records. https://t.co/ILwNN7e9LT — ABC News (@ABC) March 16, 2026 ABC News explained further: A notice on the case’s docket said that lawyers for the bank and the victims “reached a settlement in principle.” The terms of the settlement were not immediately disclosed and would need to be approved by a federal judge. U.S. District Judge Jed Rakoff had previously scheduled the case to go to trial on May 11. A court hearing to consider the settlement proposal is scheduled for April 2 in federal court in New York, according to the docket. Bank of America declined to comment on the proposed settlement to ABC News. An attorney for the victims called the proposed settlement “one more step on the road to much-deserved justice.” “The women entrapped and abused by Jeffrey Epstein and Ghislaine Maxwell started a monumental reckoning with their brave voices and fearlessness. The road to justice for these women has been long and trying,” attorney Sigrid McCawley said in a statement. Black was described as a “critical witness” in the case. The billionaire financier’s deposition was postponed for 10 days after a hearing on the grounds that the “parties were close to settling,” the Associated Press noted. Leon Black, billionaire financier, to be deposed in Epstein victims' suit against Bank of America. https://t.co/fBJDLgiKkY — NBC News (@NBCNews) March 13, 2026 More from the Associated Press: The October lawsuit accused the bank of ignoring $170 million Black paid from a Bank of America account to Epstein purportedly for “tax and estate planning advice.” It said the bank ignored “numerous red flags” of improper financial dealings, and “went far beyond what a non-complicit bank would have done and instead assisted Epstein in setting up the necessary financial structure to operate his sex-trafficking venture.” The lawsuit, brought on behalf of a woman identified in court papers only as Jane Doe and “all others similarly situated,” said the woman was living in Russia when she met Epstein in 2011 and was “coerced into a cult-like life.” It said she was paid by Epstein through a Bank of America account as she was controlled “financially, emotionally, and psychologically” by Epstein from 2011 through 2019 as he sexually abused her on at least 100 occasions, including raping her and forcing her to engage sexually with other women for his sexual gratification. The lawsuit alleged that Epstein paid her rent and income from a phony job through a Bank of America account, and held her immigration status “over her head, until her ultimate escape when Jeffrey Epstein died.”