NEW YORK — Two new lawsuits are putting Bank of America and Bank of New York Mellon (BNY) back under scrutiny for their past ties to Jeffrey Epstein, alleging the banks enabled his sex-trafficking enterprise even as public efforts to release government records about Epstein have stalled, The Guardian reported.
Filed by an anonymous survivor, the proposed class actions accuse the banks of providing financial services that allegedly helped sustain Epstein’s operation. The suits argue that access to institutional banking support gave Epstein funding and legitimacy, despite red flags tied to his conduct. Both cases are being led by attorneys who have long represented Epstein victims, according to The Guardian.
The allegations echo earlier cases brought against other financial institutions, several of which resulted in large settlements without admissions of wrongdoing. This time, the focus is on whether Bank of America and BNY ignored warning signs, failed to curb their relationships with Epstein, or, in Bank of America’s case, neglected to file suspicious activity reports, The Guardian said.
Legal experts told The Guardian the claims face a high bar, requiring proof that the banks’ actions were a substantial factor in the harm suffered by victims—not merely that they did business with a disreputable client. Still, attorneys said the litigation carries reputational risk for the institutions and could pressure them toward settlement if the cases survive early dismissal efforts.
Regardless of outcome, the lawsuits could force new disclosures through discovery, potentially revealing information that has remained hidden amid congressional delays and Justice Department inaction, The Guardian reported. BNY said, “The claims in the lawsuit are meritless, and we will vigorously defend against it.” Bank of America likewise said, “We will vigorously defend ourselves in this matter.”