Settlement Agreement Reached in Cobell v. SalazarA Settlement Agreement has been announced between IIM 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.
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