Bank of America has agreed to a $72.5 million settlement to resolve a class-action lawsuit involving Jeffrey Epstein. The legal battle centered on allegations that the financial institution ignored red flags and suspicious activities while providing banking services that supported Epstein’s sex trafficking ring. Although the bank denies any liability or wrongdoing, the agreement marks a significant financial fallout from the disgraced financier’s legal legacy.

The lawsuit was filed on behalf of survivors who were victims of Epstein’s abuse. According to reports from CBS News and The Straits Times, the plaintiffs argued that the bank maintained accounts for Epstein and his associates long after suspicious financial patterns should have triggered internal alarms. This settlement follows a trend of massive payouts from other major institutions, including JPMorgan Chase, which paid $290 million, and Deutsche Bank, which settled for $75 million.

The $72.5 million deal is currently awaiting final judicial approval before the funds can be released. If cleared, the money will be used to provide compensation and closure for the survivors of Epstein’s crimes. Representatives for Bank of America stated that the settlement aims to move the case toward a conclusion without the need for a lengthy and public trial.