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Payments to begin soon for Indian trust account holders
With legal challenges to the historic Cobell settlement ended, the federal government will send out payments of $1,000 that may reach Indians within weeks. An estimated 50,000 in Oklahoma will be included.
Payments have been delayed by four account holders who challenged the settlement. The U.S. Supreme Court rejected a challenge last month, paving the way for the payments to begin.
Of the $3.4 billion settlement, more than $1.4 billion will be used to make payments to Indians who have or had trust accounts within certain date ranges. For many, the payment will be a flat $1,000, while others will get additional amounts based on how much revenue was received in their accounts.
The settlement includes another $1.9 billion to buy parcels of land that have been divided up numerous times over generations and don't generate enough income to justify the management costs.
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