finance.yahoo.com

Bank of America Receives Final Approval for $72.5M Epstein Claims Settlement

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Sig3.30Sen-3.20Env0.00Soc-3.50Gov-4.10

Bank of America won final court approval for a $72.5 million settlement with women who accused the bank of enabling Jeffrey Epstein’s abuse. The allegations involve suspicious transactions that allegedly continued after Epstein’s 2008 conviction. While the payment is small relative to its earnings, the resolution removes a legal overhang but leaves heightened scrutiny on the bank’s risk controls and ability to identify dangerous clients before transactions become liabilities.

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