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A major legal battle tied to the legacy of disgraced financier Jeffrey Epstein has taken a new turn after Bank of America reached a settlement with women who accused the bank of enabling their sexual abuse.

Court filings released Monday revealed that the Bank of America Epstein survivors’ lawsuit settlement was reached “in principle,” marking another milestone in the long pursuit of accountability tied to Epstein’s global sex-trafficking network.

While the financial terms remain undisclosed, the agreement still requires approval from Jed Rakoff, the federal judge overseeing the case in Manhattan.

A Settlement in Principle

According to court records, attorneys representing both the plaintiffs and Bank of America informed Judge Rakoff during a March 12 telephone conference that they had reached a preliminary deal to resolve the lawsuit.

Legal documents indicate that both parties must now submit formal settlement papers by March 27. Judge Rakoff has scheduled a court hearing on April 2 to determine whether the agreement will receive final approval.

If approved, the settlement would end a civil case that accused the nation’s second-largest bank of overlooking red flags linked to Epstein’s activities.

Lawyers Call the Deal ‘One More Step’ Toward Justice

For the women who brought the claims, the development signals progress after years of legal struggle.

Sigrid McCawley, an attorney representing the survivors, said the resolution represents meaningful forward movement.

“Today’s resolution of the case against Bank of America is one more step on the road to much-deserved justice,” McCawley said in a statement.

Bank of America declined to provide comment on the settlement.

The Lawsuit’s Core Allegations

The proposed class-action lawsuit was filed in October by a woman identified only as Jane Doe. Her complaint argued that Bank of America ignored suspicious financial activity connected to Epstein, despite widespread reports and warning signs about his crimes.

According to the lawsuit, the bank allegedly continued providing financial services while prioritizing profits over protecting victims. The complaint cited a “plethora” of information that it claimed should have triggered scrutiny of Epstein-related transactions.

Bank of America rejected those claims, asserting that it merely provided standard banking services to individuals who, at the time, had no known connection to Epstein. The bank argued the allegations suggesting deeper involvement were “threadbare and meritless.”

Judge Allowed Key Claims to Proceed

In January, Judge Rakoff ruled that the case could move forward, allowing the plaintiff to pursue claims that the bank knowingly benefited from Epstein’s trafficking operation and obstructed enforcement of the Trafficking Victims Protection Act.

Among the transactions highlighted in the lawsuit were payments made to Epstein by Leon Black, a billionaire investor and co-founder of Apollo Global Management.

Black stepped down as Apollo’s chief executive in 2021 following an independent review by an outside law firm, which determined he had paid Epstein approximately $158 million for tax and estate planning services.

Black has denied any wrongdoing and maintains that he was unaware of Epstein’s criminal conduct.

Depositions and Trial Now Unlikely

Before the settlement was reached, Leon Black had been scheduled to provide sworn testimony on March 26 as part of the litigation process.

That deposition is now unlikely to take place, and a trial that had been scheduled for May 11 will likely be canceled if the judge formally approves the settlement.

Part of a Broader Legal Reckoning

The Bank of America case is one of several lawsuits targeting financial institutions accused of enabling Epstein’s trafficking network.

In 2023, lawyers representing Epstein’s accusers secured major settlements from two other global banks: JPMorgan Chase agreed to pay $290 million, while Deutsche Bank settled for $75 million.

Those agreements marked significant financial penalties tied to the scandal and intensified scrutiny of how financial institutions handled accounts associated with Epstein.

Epstein’s Death and the Ongoing Fallout

Epstein’s criminal case ended abruptly in August 2019 when he was found dead in a Manhattan jail cell while awaiting trial on federal sex-trafficking charges.

Authorities ruled his death a suicide, but the fallout from his crimes has continued to ripple across courts, corporations, and institutions worldwide.

The Bank of America Epstein survivors’ lawsuit settlement now adds another chapter to that unfolding legal saga—one more piece in a puzzle still revealing how powerful networks operated in the shadows.