JP Morgan Chase has settled lawsuits related to its dealings with financier Jeffrey Epstein, resolving a long-standing scandal. The settlements, totaling $75 million with the US Virgin Islands and former executive Jes Staley, conclude litigation surrounding Epstein's sexual abuse allegations.

JP Morgan's settlement includes funds for charitable organizations, law enforcement against human trafficking, and attorney's fees. The terms of the settlement with Staley remain confidential. Epstein had been a client of JP Morgan from 1998 to 2013.

The bank stated that it deeply regrets any association with Epstein and would have severed ties had it known about his crimes. A trial had been scheduled for October 23. The settlements mark a historic victory for survivors and raise awareness about banks' responsibilities in preventing human trafficking.

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