Bank of America Agrees To Pay $72.5 Million To Epstein Survivors
Bank of America agreed to pay $72.5 million to settle claims it enabled Jeffrey Epstein's sex-trafficking operation; a judge set deadlines and a hearing on approving the deal.
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Business InsiderBank of America agrees to settle Epstein case for $72.5 million
Overview
Bank of America agreed to pay $72.5 million to settle a proposed class-action lawsuit by women who say the bank facilitated Jeffrey Epstein's sex-trafficking operation.
The settlement would cover women abused or trafficked by Epstein or associates between June 30, 2008 and July 6, 2019, and follows large payouts to victims from other banks.
Bank of America said the resolution makes no admission of liability and that it "did not facilitate sex trafficking crimes," while plaintiffs' lawyers said the settlement provides further closure for victims.
Attorneys say there are at least 60 victims, plaintiffs' lawyers may seek up to 30% (about $21.8 million) in fees, and prior settlements with JPMorgan and Deutsche Bank were $290 million and $75 million.
U.S. District Judge Jed Rakoff gave the parties a March 27 deadline to file settlement terms and scheduled an April 2 hearing to decide whether to approve the deal.
Analysis
Center-leaning sources report this settlement in a straightforward, legalistic manner that reads as neutral: factual court filings, settlement terms, judge dates, and the bank's denial are presented without loaded adjectives. coverage emphasizes procedural details and prior comparable bank payouts, though it largely lacks direct victim voices, which could reduce human-centered context.
FAQ
Bank of America agreed to pay $72.5 million to settle the lawsuit without admitting any liability or wrongdoing.
The settlement covers women who were sexually abused or trafficked by Jeffrey Epstein or his associates between June 30, 2008, and July 6, 2019, with lawyers aware of at least 60 victims.
U.S. District Judge Jed Rakoff set a March 27 deadline to file settlement terms and an April 2 hearing to decide on approval.
It follows JPMorgan's $290 million and Deutsche Bank's $75 million settlements with Epstein victims; one source mentions JPMorgan at $365 million.
The lawsuit claimed the bank ignored red flags, including a $170 million payment from Leon Black to Epstein, and facilitated the financial structure for Epstein's sex-trafficking.
