Bank of America has agreed to pay $72.5 million to settle a lawsuit alleging ties to Jeffrey Epstein and failure to flag suspicious payments.
The proposed class-action lawsuit was filed on behalf of a woman who said she was sexually abused and trafficked by Epstein, as well as other victims.
The lawsuit alleged that Bank of America financially benefited from Epstein's circle and failed to file suspicious activity reports, despite information it gleaned from accounts provided to those around him.
Unlike other lawsuits against banks, this suit wasn't primarily about Epstein having his own accounts at Bank of America.
Epstein was indicted in 2019 on federal sex-trafficking charges involving underage girls and had been convicted of soliciting prostitution from a teenage girl.
Bank of America said the settlement wasn't an admission of wrongdoing, but rather a way to put the matter behind them and provide closure for the plaintiffs.
The settlement still requires court approval.
