Bank of America's $72.5M Epstein Settlement Gets Preliminary Approval

• A US judge granted preliminary approval to Bank of America's $72.5 million settlement with women accusing the bank of facilitating Jeffrey Epstein's sexual abuse.
• US District Judge Jed Rakoff scheduled an August 27 hearing for final approval of the settlement.
• Plaintiffs' lawyers expect 60 to 75 victims, mainly from the US or Eastern Europe, to submit claims.
• The settlement aims to compensate victims, with lawyers potentially seeking up to 30% ($21.8 million) in legal fees.
• Bank of America, JPMorgan Chase, and Deutsche Bank have all settled similar lawsuits related to Epstein's sex trafficking.