indianz.com your internet resource indianz.com on facebook indianz.com on twitter indianz.com on Google+
ph: 202 630 8439
Indian Law Online Master Degree
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: Urban Indian organization seeks new center (11/26)
Tentative schedule for White House Tribal Nations Conference (11/26)
White House invites youth to DC for Tribal Nations Conference (11/26)
Leslie Wheelock: Touting nation-to-nation trading and tourism (11/26)
Kevin Abourezk: A mystery of Indian agents with same name (11/26)
Michael Allen: My ancestor took part in Sand Creek Massacre (11/26)
Dean Suagee: EPA's Clean Power Plan affects Indian Country (11/26)
Mark Rogers: Finding something to be thankful for this holiday (11/26)
Former convicted leader of Crow Tribe seeks to clear his name (11/26)
Blackfeet Nation denies political motive in arrest of ex-leader (11/26)
Appeal set in dispute over Navajo Nation presidential hopeful (11/26)
Judge allows NFL team lawsuit against young Native activists (11/26)
NPR: Alaska Natives put traditional spin on Thanksgiving meal (11/26)
Column: Group helps rescue dogs from Pine Ridge Reservation (11/26)
First Nation offers reward for information about missing man (11/26)
First Nations face loss of funds over failure to submit salaries (11/26)
Santa Ysabel Band responds to state lawsuit over online bingo (11/26)
Citizen Potawatomi Nation to meet over liquor sales at casino (11/26)
Flandreau Santee Sioux Tribe could lose casino's liquor license (11/26)
Mashantucket Tribe looks to shift revenues away from gaming (11/26)
Agua Caliente Band selects planner to revamp land near casino (11/26)
Washington gaming panel cuts jobs as non-Indian revenue falls (11/26)
Native Sun News: Oglala Sioux Tribe to issue IDs at tournament (11/25)
James Giago Davies: Polygamy and shunning in Lakota culture (11/25)
Ben Shelly: There's a lot to be thankful for on the Navajo Nation (11/25)
Cara Cowan Watts: Share the blessings of the Cherokee Nation (11/25)
Joe Sexton: BIA's 'ugly' land policies stuck in the 19th century (11/25)
Jenny Durkan: Cop who killed Native man wasn't charged either (11/25)
Oklahoma claims Citizen Potawatomi Nation must collect taxes (11/25)
Divided court won't extend Seneca Nation immunity to business (11/25)
Vice: North Dakota tribe sees $25M a month in energy royalties (11/25)
Members of Lumbee Tribe proud to carry on tradition of service (11/25)
Flandreau Santee Sioux Tribe donates $10K to local food pantry (11/25)
Slate: Non-Indians were encouraged to move to tribal territory (11/25)
Column: Remains of Dakota man hanged in 1862 kept in home (11/25)
Family members plead guilty to thefts from reservation town (11/25)
Authorities investigate fatal crash involving Bad River officer (11/25)
Editorial: Yakama Nation must disclose plans for clean water (11/25)
Roy Burton: Montana tribe puts its people at risk with gaming (11/25)
Lawmaker asks BIA to wait on Cowlitz Tribe casino acquisition (11/25)
Gaming compacts on agenda for 2015 session in New Mexico (11/25)
Quapaw Tribe faces even more competition for Kansas casino (11/25)
Pala Band wins final approval for online gaming in New Jersey (11/25)
Mashantucket Tribe still thinking about Massachusetts casino (11/25)
Tim Giago: Cornflakes every Sunday at Indian boarding school (11/24)
Charles Trimble: A time to give thanks -- For whatever reason (11/24)
Mark Trahant: Incoming Alaska governor opens doors to tribes (11/24)
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.