Overview
- The bank disclosed in a Friday court filing that it will pay $72.5 million to settle a class action by women who say it enabled Jeffrey Epstein’s abuse by ignoring suspicious transactions.
- The proposed deal faces a hearing Thursday before U.S. District Judge Jed Rakoff in Manhattan, which could clear the settlement and avoid a trial.
- If approved, the class would cover all women abused or trafficked by Epstein between June 30, 2008 and July 6, 2019.
- Bank of America said the payment is not an admission of wrongdoing and that it did not facilitate sex trafficking crimes.
- The agreement adds to a run of bank payouts, following JPMorgan’s $290 million and Deutsche Bank’s $75 million settlements in 2023.