Protect Native Money

There is an urgent short term need to provide financial and consumer protection information to tribes and Native peoples.

Starting in 2012 and throughout 2013, $3 billion in individual and tribal trust fund settlements will come to Indian Country. The Keepseagle and Cobell class action legal settlements with the federal government have both been settled and lump sum payouts to individual recipients started in 2012. The more immediate payouts in Keepseagle and Cobell amount to more than $2 billion to individual recipients. In addition, more than 50 tribal trust settlements, totaling more than $1.0 billion, have been settled and payouts have either already been made or are due shortly, with another estimated 60 tribal settlements in the pipeline to be resolved.  For a current update, click here.

 

Keepseagle Settlement

The Keepseagle Settlement with the U.S. Department of Agriculture for discrimination in the USDA Farm Loan Program was settled on December 27, 2011 for $780 million.  Payments to the 4200 recipients in Track A were mailed August 23, 2012. Each will receive $50,000. Those 170 individuals in Track B received up to $250,000 with payments later in the fall.   The settlement also includes payment of the taxes on settlement proceeds and payment/reduction of outstanding debt.  Efforts are underway to conduct tax clinics for Keepseagle recipients.  Click here for updated information on the Keepseagle settlement.

The top states with recipients are: Oklahoma, South Dakota, Montana, Arizona, North Carolina, New Mexico, and North Dakota. 

For more information on the settlement, go to indianfarmclass.com.

The Cobell Settlement 

The $3.4 billion Cobell v Salazar is final and the first – or Stage 1 – payments of $1,000 were mailed by the Garden City Group (GCG) to eligible members of the Historical Accounting Class starting on December 14, 2012.  The GCD is the Claims Administrator for the Cobell Settlement. 

Claims for the Trust Administration Class (or Stage 2) must be filed by March 1, 2013.  Please note that if individuals are currently receiving Individual Indian Money (IIM) account statements there is no need to file a claim form. If you are unsure about your status go to www.indiantrust.com or call GCG at 800-961-6109.  For more information about the Cobell settlement, click here.

NCAI working with the Cobell attorneys, Claims Administrator, Office of Special Trustee representatives will be conducted a webinar to update tribes and Indian individuals about the Cobell Settlement on Wednesday, January 16th. Click here to view the presentation. Participants in the webinar submitted questions.  The responses can be viewed here. 

April 2012 - Trust Claims Settlements

On April 11, 2012, the federal government settled trust claims with more than 50 additional tribes for $1.023 billion. These 50 + tribes will each decide how their claim will be used or distributed but it could be anticipated that some percentage of this $1.0 billion will go to American Indian individuals through per capita distributions.

Learn about the tax and benefit implications of the tribal trust settlements.

For more information on the settlements, read the White House announcement.