New York, United States
News Desk | Financial Services
A U.S. federal judge has ruled that Bank of America must continue defending part of a proposed class-action lawsuit alleging the bank knowingly benefited from its past relationship with convicted sex offender Jeffrey Epstein, according to a decision issued Thursday in Manhattan federal court. The ruling allows key claims to proceed while dismissing others, narrowing the scope of the case.
U.S. District Judge Jed Rakoff said plaintiffs may pursue allegations that Bank of America profited from providing banking services to Epstein and related entities, despite warning signs tied to his criminal conduct. Claims alleging that the bank directly participated in trafficking or failed to protect victims were dismissed, the court said.
The lawsuit was filed by a woman identified as Jane Doe on behalf of Epstein’s victims. It alleges that Bank of America earned fees and other financial benefits by maintaining accounts and processing transactions linked to Epstein after his prior conviction. The complaint also accused the bank of obstructing enforcement of federal anti-trafficking laws, though those claims were rejected in the ruling.
Bank of America said it was pleased the court narrowed the case and has previously stated that it strongly denies wrongdoing. The bank has said Epstein was removed as a client once concerns were identified and that it operates under strict compliance and regulatory standards.
The ruling contrasts with a related lawsuit against Bank of New York Mellon, which the judge dismissed in its entirety. Judge Rakoff said a more detailed written opinion is expected in the coming weeks, with a trial against Bank of America currently scheduled to begin in May 2026.
The case follows earlier settlements involving other major financial institutions connected to Epstein. JPMorgan Chase and Deutsche Bank agreed in 2023 to pay a combined $365 million to resolve similar lawsuits without admitting wrongdoing.
The decision keeps Bank of America among the last major banks facing active litigation tied to Epstein’s financial network, as courts continue to examine the responsibilities of financial institutions in monitoring high-risk clients. The story is developing.
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