Bank of America Settles Epstein Suit for $72.5 Million

Bank of America has agreed to pay $72.5 million to settle a class-action lawsuit filed by women who accused the bank of enabling their sexual abuse by the late financier Jeffrey Epstein, according to court records filed in Manhattan federal court on Friday.

The settlement, which requires approval from U.S. District Judge Jed Rakoff, comes after lawyers for both sides announced earlier this month that they had reached an agreement in principle. Rakoff has scheduled a hearing for Thursday to review the proposed deal. The lawsuit, initiated in October by a plaintiff identified only as Jane Doe, alleged that the second-largest U.S. bank disregarded red flags in Epstein-related financial transactions despite ample public knowledge of his criminal activities, prioritizing profits over victim protection.

Bank of America maintained that it provided only standard banking services to individuals who, at the time, had no established connections to Epstein's illicit operations. The bank described deeper involvement allegations as unsubstantiated. In a statement, a bank spokesperson said, "While we stand by our prior statements made in the filings in this case, including that Bank of America...