Bank of America Settles $72.5 Million Epstein-Related Lawsuit

Bank of America has agreed to a $72.5 million settlement in a lawsuit brought by women who accused the bank of facilitating Jeffrey Epstein's sexual abuse. This civil lawsuit had been under the scrutiny of Manhattan-based U.S. District Judge Jed Rakoff, who is now tasked with approving the deal.

The lawsuit, initiated by a woman using the pseudonym Jane Doe, charged the bank with ignoring suspicious transactions related to Epstein, allegedly prioritizing profits over victims' protection. Bank of America has refuted these claims, stating it provided routine financial services without knowledge of links to Epstein.

In parallel legal actions, Doe's lawyers secured settlements of $290 million with JPMorgan Chase and $75 million with Deutsche Bank. Epstein, who was under trial for sex trafficking, died by suicide in August 2019, as determined by a medical examiner.