Cobell v. Salazar lawsuit settled

A proposed Settlement has been reached in the Elouise Cobell V. Salazar lawsuit.

13 years ago, Elouise Cobell filed a class-action lawsuit against the federal government on behalf of hundreds of Native Americans. The Plaintiffs claimed the United States had mismanaged billions of dollars owed them from  individual Indian trust accounts and assets.

Indian trust accounts are the payments and accounts the government holds in trust for individual Indian beneficiaries. The money is what the government owes them for using resources on their individual Indian lands. This includes rights to oil, natural gas, mineral, timber, grazing, water and other resources.

The Settlement is with the Secretary of the Interior, the Assistant Secretary of the Interior-Indian Affairs, and the Secretary of the Treasury.

Under the terms of the Settlement in Cobell v. Salazar, the federal government will
Create a $1,412,000,000 Accounting/Trust Administration Fund;
 A $2,000,000,000 Trust Land Consolidation Fund;
 Create a federal Indian Education Scholarship Fund of up to $60,000,000 to improve Indian youths' access to higher education;
Appoint a commission to oversee and monitor the accounting and management of individual Indian trust assets going forward.

Read the settlement: www.CobellSettlement.com

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