Banks identified for settlement funds in Keepseagle case

Tuesday, April 26, 2011  

The plaintiffs in the Keepseagle case have identified five banks -- including one owned by the Chickasaw Nation -- to hold and invest settlement funds.

The plaintiffs said four banks will each hold about $150 million. The tribe's Bank2 will hold about $18 million.

The banks will be discussed at a hearing today in Washington, D.C., The Blog of Legal Times reported. Attorney fees are also at issue.

The Obama administration settled the case over discrimination at the Department of Agriculture for $760 million -- $680 million in payments to Indian ranchers and farmers and $80 million for a loan forgiveness fund.

Get the Story:
Judge Wants Info on Bank Selection Process in Class Action Settlement (The Blog of Legal Times 4/25)

Relevant Documents:
• Plaintiffs Press Release | Settlement | Notice Form A | Notice Form B
• Damages Award | Loan Debt Relief
• Native American Farmers and Ranchers Council | Named Plaintiffs
• President Obama Statement | USDA Press Release

Related Stories:
DOJ seeks to limit attorney fees in USDA discrimination lawsuit (3/22)
Informational meetings for Keepseagle case set in Oklahoma (2/16)
Attorneys in Keepseagle discrimination case seek $60.8M in fees (1/20)
Mary Pember: Indian farmers told to stay 'patient' for settlement (11/22)
Plaintiff in Indian farmers suit died after learning of settlement (11/15)
Opinion: USDA 'capitulates' to Indian farmers in $760M settlement (11/3)
Judge gives preliminary approval of settlement in Keepseagle suit (11/2)
Hearing this Friday to discuss settlement in Indian farmer case (10/27)
NPR: USDA agrees to $760M settlement for Indian farmers case (10/22)
Indian farmers reach $760M settlement for USDA discrimination (10/20)
Keepseagle won't need Congressional approval for settlement (10/19)
Justice Department reviewing settlement in Indian farmer case (10/14)
Settlement reportedly near in Indian farmer discrimination suit (10/13)
USDA loan officer in Montana was arrested for incident at Fort Peck (7/30)
No word of settlement in Indian farmers discrimination suit (5/26)
Standing Rock Sioux ranchers complain about loan office (4/22)
'Nowhere close' to deal in Indian farmer discrimination suit (4/8)
Deadline approaches for Indian farmers discrimination suit (4/6)
NCAI pushes for settlement in USDA discrimination suit (3/17)
Indian farmers wait on settlement over discrimination (2/26)
Indian farmers receive fewer services despite more land (1/15)
Settlement talks underway in Indian farmers lawsuit (12/9)
USDA not ready for Indian discrimination talks (9/29)
Indian farmers set for USDA discrimination trial (9/11)
Indian farmers wait for settlement with Obama (9/8)
Indian farmers prepare for discrimination trial (5/26)
Indian farmers ready for trial in discrimination case (3/5)
Indian ranchers seek settlement from Obama (3/4)