US Judge Approves $290 Million JP Morgan Settlement With Epstein Accusers

A U.S. judge on Thursday approved JPMorgan Chase’s (JPM.N) $290 million settlement with women who said Jeffrey Epstein abused them, and that the largest U.S. bank turned a blind eye to the late financier’s sex trafficking.

U.S. District Judge Jed Rakoff called the deal “a really excellent settlement” that he said could prevent future sex trafficking by alerting banks to the consequences of facilitating transactions linked to it.

“This case sent a message through this very substantial settlement that banking institutions … have responsibilities that perhaps were not fully recognized in the past,” the judge said.

Read more at Reuters