The lawsuit, filed by a woman identified as “Jane Doe,” alleged the bank ignored suspicious financial transactions tied to Epstein, prioritizing profits over victims’ safety.
While the bank denied facilitating sex trafficking or wrongdoing, it said the settlement would help “bring closure” and resolve the case.
The agreement still requires approval from a U.S. judge, and lawyers representing the victims could take up to 30% of the payout in legal fees.
The case is part of a broader wave of litigation targeting financial institutions accused of links to Epstein, with other banks previously paying hundreds of millions in similar settlements.
Bank of America has agreed to pay $72.5 million to settle a civil lawsuit brought by women who accused the bank of enabling the sexual abuse and trafficking network of Jeffrey Epstein, according to Reuters.