Catholic Archdiocese of Los Angeles agrees to $880 million settlement over abuse claims

The Catholic Archdiocese of Los Angeles has agreed to a $880 million settlement related to abuse claims made by more than 1,300 victims going back to the 1940s.

"I am sorry for everyone one of these incidents, from the bottom of my heart," said Archbishop José H. Gomez in a statement. "My hope is that this settlement will provide some measure of healing for what these men and women have suffered."

To date, the Archdiocese of Los Angeles has paid out close to $1.5 billion since 2007, including the most recent settlement involving 1,353 alleged victims.

"The massive amount of this settlement reflects the amount of grievous harm done to vulnerable children and the decades of neglect, complicity and cover-up by the Archdiocese which allowed known serial predators to inflict this harm. I encourage other religious institutions within the Catholic Church to meet their responsibilities and take accountability," said Morgan A. Stewart, the victims' attorney.

Other archdioceses in California have had to file for bankruptcy protection after similar lawsuits, according to CBS News.