indianz.com your internet resource indianz.com on facebook indianz.com on twitter indianz.com on Google+ indianz.com on soundcloud
phone: 202 630 8439
Kill The Tobacco Master Settlement Agreement
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:
On Facebook

On Twitter

On Google+

On SoundCloud
Local Links:
Federal Register | Indian Gaming | Jobs & Notices | In The Hoop | Message Board
Latest News:
Lawmakers take action on Native youth and Indian Country bills (9/29)
Dakota Access enlists big name law firm ahead of court hearing (9/29)
Congress goes on break again after failing to pass spending bills (9/29)
Oklahoma lawmakers push for approval of tribal water rights deal (9/29)
Documents detail settlement amounts in tribal trust fund lawsuit (9/29)
Supreme Court accepts case involving Mohegan Tribe employee (9/29)
Supreme Court accepts case linked to NFL team's racist mascot (9/29)
Lakota Country Times: Powwow, Indian relay unite for big event (9/29)
Native Sun News Today: Meet the world's only Lakota magician (9/29)
Dave Archambault Sr.: The roots of the battle at Standing Rock (9/29)
Jim Kent: A tale of two warriors comes alive in sacred Black Hills (9/29)
Mary Annette Pember: Water protectors rounded up for praying (9/29)
Dina Gilio-Whitaker: A model for tribal consultation with UNDRIP (9/29)
Chukchansi Tribe schedules election for three council positions (9/29)
Seneca Nation prepares for tribal council election in November (9/29)
Donald Trump hired firm to lobby for tribal casino deal in Florida (9/29)
Bureau of Indian Affairs faced pressure to approve gaming deal (9/29)
Graton Rancheria eyes November opening for $175M casino hotel (9/29)
House approves national water bill without #NoDAPL amendment (9/28)
County sheriff announces additional arrests of #NoDAPL resisters (9/28)
Mary Annette Pember: Sheriff is looking into reports of 'gunshots' (9/28)
Ute Tribe mounts battle against 'modern day Indian land grab' bill (9/28)
Field hearing scheduled on energy development in Indian Country (9/28)
Native American Financial Services Association hires new director (9/28)
Lakota Country Times: Thank you ceremony honors Black Elk Peak (9/28)
Native Sun News Today: Northern Cheyenne Tribe election season (9/28)
James Giago Davies: Oceti Sakowin assert sovereignty once again (9/28)
Mark Fogarty: Young Native journalists cover historic movement (9/28)
Peter d'Errico: Briefcase warriors must defend original nations (9/28)
Seminole Tribe removes James Billie from chairman's position (9/28)
Mashpee Wampanoag Tribe granted role in casino land dispute (9/28)
Wilton Rancheria makes significant progress on casino project (9/28)
Mohawk Council of Kahnawake takes action on online gaming (9/28)
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.