India, April 2 -- A U.S. judge granted preliminary approval on Thursday to Bank of America's $72.5 million settlement with women who accused the bank of facilitating their sexual abuse by Jeffrey Epstein. U.S. District Judge Jed Rakoff in Manhattan scheduled an August 27 hearing to consider final approval.

David Boies, a lawyer for the plaintiffs, said he expected between 60 and 75 victims to submit claims. The victims are mainly based in the United States or Eastern Europe, he said. The plaintiffs' lawyers may seek up to 30% of the settlement, or about $21.8 million, for legal fees.

What Did the Judge Say About the Settlement?

Rakoff said it was important for Epstein's victims to be compensated by anyone that unlawfully facilitated hi...