The settlement still needs final approval at a hearing set for August 27, 2026.
Around 60 to 75 people from the US and Eastern Europe are expected to make claims as victims, with lawyers possibly taking up to 30% as fees.
Judge Rakoff said it's important victims get compensation, but also pointed out that not everyone linked to Epstein should be blamed.
Other banks have faced similar lawsuits, showing how financial institutions are being pushed to take more responsibility for what happens on their watch.