NY state penalizes Deutsche Bank $150M for Epstein dealings

July 7, 2020 12:26 pm

AP,

Trump Bank Subpoenas — FILE - In this Oct. 7, 2016, file photo a flag for Deutsche Bank flies outside the German bank's New York offices on Wall Street. Deutsche Bank revealed in court papers on Tuesday, Aug. 27, 2019, that it has tax records Congress is seeking in its investigation into President Trump's finances. (AP Photo/Mark Lennihan, File)

NEW YORK (AP) – New York state says Deutsche Bank has agreed to pay $150 million to settle claims that it broke compliance rules in its dealings with the late sex offender Jeffrey Epstein.

The penalty was announced in a release Tuesday by Superintendent of Financial Services Linda A. Lacewell.

The release said the agreement marked the first enforcement action by a regulator against a financial institution for dealings with the financier.

Epstein killed himself last August in a Manhattan federal jail while awaiting trial on sex trafficking charges.

In a statement, the German bank said the settlement reflected its cooperation. It said it has significantly boosted its anti-financial crime capabilities.