The federal government has settled a long-running class action lawsuit alleging that it mismanaged the trust accounts of individual Indians.
Settlement Agreement Reached in Cobell v. Salazar
A Settlement Agreement has been announced between IIM [Individual Indian Money] beneficiaries and the Secretary of the Interior, the Assistant Secretary of the Interior-Indian Affairs, and the Secretary of the Treasury in a long-running class action lawsuit, Cobell v. Salazar. The lawsuit claims that the federal government mismanaged individual Indians’ 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.
- Individual Indian Beneficiaries:
For more information on the Settlement or if you believe you are an individual Indian beneficiary, including an Individual Indian Money (IIM) Account Holder or heir of an IIM Account Holder, view Settlement Information for American Indians.
- Media Information:
If you are a member of the press, visit the Press Room here.
- View Background Information and Key Documents.