Overview
- Bank of America agreed to a $72.5 million deal disclosed Friday in Manhattan federal court, and Judge Jed Rakoff set a Thursday hearing to decide whether to approve it.
- The proposed class would pay women abused or trafficked between June 30, 2008 and July 6, 2019, and lawyers say they know of at least 60 victims in that window.
- The bank says the settlement includes no admission of liability and maintains it did not facilitate sex‑trafficking crimes.
- Plaintiffs allege the bank ignored red flags and delayed required suspicious activity reports on Epstein‑linked transactions, including large transfers from Apollo co‑founder Leon Black.
- The agreement would head off further discovery, including a planned deposition of Black, and it follows prior payouts by JPMorgan ($290 million) and Deutsche Bank ($75 million).