Overview
- Bank of America agreed to pay $72.5 million to settle a class action over claims it enabled Jeffrey Epstein’s sex-trafficking network.
- The proposed agreement still needs sign-off from a federal court in New York before money can be distributed.
- Plaintiffs, who say they are Epstein’s victims, allege the bank kept accounts and processed suspicious transfers despite clear warning signs from 2011 to 2019.
- The bank denies any wrongdoing and says the payment is meant to close the case rather than admit liability.
- U.S. Justice Department records released in recent years expanded scrutiny of Epstein’s contacts, and other banks settled related suits earlier, including JPMorgan for $290 million in 2023 and Deutsche Bank for $75 million.