New York opens yearlong window for victims to file past abuse claims

More than 400 child sexual abuse lawsuits were filed in New York Wednesday, as the state started accepting cases previously barred by the statute of limitations, AP reports.

Why it matters: Institutions that have long cared for children, like the Catholic Church, the Boy Scouts, public school districts and hospitals, are girding for what could be a devastating financial blow. All such institutions were named in lawsuits filed Wednesday. A similar law, passed in California in 2002, resulted in Catholic dioceses there paying $1.2 billion in legal settlements.