indianz.com your internet resource indianz.com on facebook indianz.com on twitter indianz.com on Google+
ph: 202 630 8439
Fredericks Peebles & Morgan LLP
Advertise on Indianz.Com
Home > News > Headlines
Print   Subscribe
CFPB: Protecting your share of Cobell settlement from fraud

Filed Under: Cobell
More on: cfpb, per caps
   

"Hundreds of thousands of Native Americans started getting the first payments last week as part of a long-awaited settlement with the federal government over its management as trustee of Individual Indian Money Accounts. The settlement, commonly known as Cobell v. Salazar, means the arrival of funds for Native Americans across the country. Cash payments like this can be a great opportunity for consumers to build up their assets—but we also anticipate scammers targeting settlement recipients, looking to separate these communities from their money.

If you received money from the Cobell settlement, here are some simple steps you can take to protect your money:

Take your time. Beware of “opportunities” that force you to make a snap decision—high pressure “act now” offers are often used to keep you from understanding the true costs and risks of a product. Never sign anything without asking questions and understanding it first. If necessary, ask a trusted relative, friend, tribal official, or attorney for a second opinion before acting.

Pay off debt. If you took out a loan anticipating money from the settlement or use other expensive credit products, the settlement check is a good opportunity to pay down that debt.

Save. Consider using the settlement funds to start saving. People with savings are better prepared to handle financial emergencies—like a major car or home repair—and are less likely to rely on expensive debt."

Get the Story:
Protecting funds from the Cobell v. Salazar settlement (Consumer Financial Protection Bureau 12/27)

Related Stories:
Judge appoints special master to help with Cobell settlement (12/21)
Deadline for second round of payments from Cobell settlement (12/20)
BSPR: NCAI worried about scams related to Cobell payments (12/17)
Delvin Cree: Cobell brings millions to Turtle Mountain members (12/14)
MTPR: Indian beneficiaries wait for share of Cobell settlement (12/13)
Judge orders first round of payments from Cobell settlement (12/12)
Dina Gilio-Whitaker: Winners and losers in Cobell settlement (12/11)
Upwards of 15K from Turtle Mountain Band to share in Cobell (12/10)
Cobell trust settlement expected to bring $23M to Wyoming (12/10)
Dennis Gingold withdraws as counsel in Cobell trust fund case (12/7)
South Dakota could see $115M in first round of Cobell payout (12/3)
Editorial: Elouise Cobell worked tirelessly for trust settlement (12/3)
Editorial: Priceless lessons learned from Cobell trust fund case (12/3)
Opinion: Cobell trust fund settlement payout 'insultingly small' (12/3)
NPR: South Dakota beneficiaries await share of Cobell payout (11/30)
Jay Daniels: Christmas and Cobell - what about the day after? (11/29)
Upwards of 50K in Oklahoma share in $3.4B Cobell settlement (11/29)
Tribal members in Wyoming could see $8M from Cobell payout (11/29)
Cobell settlement comes too late for beneficiaries who passed (11/29)
Checks for $3.4B Cobell settlement expected in mid-December (11/28)
About 350K to share in first round of Cobell settlement payout (11/27)
Obama announces final approval for Cobell settlement payout (11/26)
About 30K in Arizona expected to benefit from Cobell payouts (11/14)
Geoffrey Rempel: The truth behind the withdrawn Cobell appeal (11/12)
Ask Elouise: Appeals of $3.4B Cobell trust settlement dismissed (11/8)
Cobell settlement cleared after Supreme Court dismisses appeal (11/8)
Mary Aurelia Johns explains reasons for dropping Cobell appeal (11/08)


Copyright © Indianz.Com
More headlines...
Stay Connected:

Local Links:
Federal Register | Indian Gaming | Jobs & Notices | In The Hoop | Message Board
Latest News:
Native Sun News: Harvest the Hope concert unites Keystone foes (10/2)
Mark Trahant: A lot stake for Native voters in Montana this year (10/2)
BIA extends comment period for changes to rights-of-way rule (10/2)
Navajo Nation won't delay election despite presidential dispute (10/2)
Column: Joba Chamberlain shares his life story through tattoos (10/2)
Washington city could turn Columbus Day into Coast Salish Day (10/2)
Cherokee Nation chief apologizes for attending live pigeon shoot (10/1)
Elizabeth Cook-Lynn: Telling the indigenous story with public art (10/1)
DOI puts another $1M from lands sales into Cobell scholarships (10/1)
9th Circuit bars use of tribal conviction in domestic assault case (10/1)
2nd Circuit rebuffs tribal online lenders in dispute with New York (10/1)
Crystal Willcuts: A tribute to my mother who was lost to cancer (10/1)
Seneca Nation man launches campaign for mayor of Salamanca (10/1)
BIA ends comment period on reform to federal recognition rule (10/1)
African-American lawmakers accuse Pamunkey Tribe of racism (10/1)
Officials claim Oklahoma owed $30M in Impact Aid for schools (10/1)
FCC will consider petition to outlaw R-word on public airwaves (10/1)
BLM struggles to manage wild horse population as herds grow (10/1)
Opinion: North Fork Rancheria casino brings boost to economy (10/1)
Report places economic impact of US gaming industry at $240B (10/1)
Shinnecock Nation gaming partner cut $250K monthly payment (10/1)
Column: Seminole Tribe poised for continued growth in gaming (10/1)
Native Sun News: Agency weighs uranium mine near sacred site (9/30)
Jim Abourezk: South Dakota tribes can put Rick Weiland in office (9/30)
Cherokee chief participated in live pigeon shoot for Sen. Inhofe (9/30)
Navajo vice president returns home after near fatal spider bite (9/30)
North Dakota tribe sees big problems as energy industry grows (9/30)
Andre Cramblit: Another year brings challenges for our people (9/30)
Jack Duran: State's 'shocking' attack on Big Lagoon Rancheria (9/30)
Navajo Nation Council to select a new leader after resignation (9/30)
Editorial: Long delayed trust fund settlement for Navajo Nation (9/30)
Keepseagle plaintiffs oppose use of $380M to create foundation (9/30)
Opinion: Working with New Mexico tribes to protect sacred sites (9/30)
Pueblo man chosen as chair of VA minority advisory committee (9/30)
Woman sues over fall at Fallon Paiute Shoshone Tribe business (9/30)
Seminole Tribe makes another attempt to join banking business (9/30)
Mohegan Tribe purchases more wood pellet production facilities (9/30)
Ponca Tribe takes down old headquarters and readies new home (9/30)
Native Mob gang leader sentenced to 43 years in federal prison (9/30)
Three indicted for murder of man from Northern Arapaho Tribe (9/30)
Rivals funded DC trips to oppose Tohono O'odham Nation casino (9/30)
American Gaming Association includes tribes in economic report (9/30)
Editorial: Vote yes to support North Fork Rancheria gaming deal (9/30)
Editorial: Florida shouldn't take a gamble with casino expansion (9/30)
Tim Giago: All Indian people ask is for America to honor treaties (9/29)
Native Sun News: Tribes take on IRS and win battle over taxation (9/29)
Mark Trahant: Indian vote could bring a surprise in South Dakota (9/29)
Tribal General Welfare Exclusion Act signed into law by Obama (9/29)
more headlines...

Home | Arts & Entertainment | Business | Canada | Cobell Lawsuit | Education | Environment | Federal Recognition | Federal Register | Forum | Health | Humor | Indian Gaming | Indian Trust | Jack Abramoff Scandal | Jobs & Notices | Law | National | News | Opinion | Politics | Sports | Technology | World

Indianz.Com Terms of Service | Indianz.Com Privacy Policy
About Indianz.Com | Advertise on Indianz.Com

Indianz.Com is a product of Noble Savage Media, LLC and Ho-Chunk, Inc.