The federal government intends to pay $3.4 billion to settle claims that it mismanaged revenue generated by American Indian trust funds that date to the 19th century. If approved by the U.S. Congress and the federal court, it will resolve a 13-year-old lawsuit involving hundreds of thousands of land trust accounts
Under the terms of the Settlement, the federal government will create a $1.4 billion Accounting/Trust Administration Fund and a $2 billion Trust Land Consolidation Fund. The Settlement also creates an Indian Education Scholarship fund of up to $60 million to improve access to higher education for Indians.
For more information, go to http://www.cobellsettlement.com/