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
Health Coverage for American Indians and Alaska Natives
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:
Supreme Court deals setback to tribes in labor sovereignty dispute (6/27)
Washington tribes win major fishing rights ruling at appeals court (6/27)
Shinnecock Nation hits the end of the line with ancestral land claim (6/27)
Supreme Court won't hear Pauma Band compact negotiation case (6/27)
Witness list for Senate Indian Affairs Committee hearing on 3 bills (6/27)
Lakota Country Times: Teams compete for Indian horse relay title (6/27)
Native Sun News: Rebuilding the Lakota Nation through education (6/27)
Vi Waln: Don't be afraid to come pray with your Lakota relatives (6/27)
Clara Caufield: Out fishing on the Upper Boulder River in Montana (6/27)
Opinion: Supreme Court exposes Indian people to federal powers (6/27)
Anonymous: Fighting back against victimization in Indian Country (6/27)
Michael Sandoval: San Felipe Pueblo respects rights of neighbors (6/27)
Andre Cramblit: Fond memories of growing up with Muhammad Ali (6/27)
Linda Greenhouse: Supreme Court goes silent in high-profile case (6/27)
Partial land-into-trust fix being watched by non-Indian interests (6/27)
Omaha Tribe cooperates with federal investigation into payments (6/27)
Northwest tribes take a stand against oil terminal in Washington (6/27)
Indigenous Digital Archive Project wins grant for online database (6/27)
Donald Trump fares poorly against Hillary Clinton in national poll (6/27)
Senate provision targeted tribes with commercial gaming plans (6/27)
Poarch Creeks in deal to acquire commercial casino in Louisiana (6/27)
Kootenai Tribe hopes to lure Canadian customers back to casino (6/27)
Tribes rest easy as Supreme Court wraps up a surprising session (6/24)
Tribes in northern California take action to protect salmon runs (6/24)
Aaron Payment re-elected as chairman of Sault Ste. Marie Tribe (6/24)
Gun Lake Tribe hosts annual Sweet Grass Moon Powwow in July (6/24)
Native Sun News: First Native hockey referee 'Butchy' passes on (6/24)
Delphine Red Shirt: Lakota people denied voting rights on our land (6/24)
Ruth Hopkins: Saving sacred Bear Butte from a massive biker bar (6/24)
Terese Mailhot: Becoming a better ally after the Orlando shooting (6/24)
April Youpee-Roll: Elizabeth Warren owes more to Indian Country (6/24)
Another land-into-trust fix reportedly being drafted in the Senate (6/24)
Federal charges filed in kidnapping of girl on Fort Peck Reservation (6/24)
Non-Indian charged for trespassing at Nambe Pueblo in New Mexico (6/24)
St. Croix Chippewa Tribe warned not to launch marijuana operation (6/24)
Eastern Shawnee Tribe breaks ground on $34M expansion at casino (6/24)
Non-Indian gaming firm loses challenge to law for new tribal casino (6/24)
Grand Ronde Tribes to finish demolition work at site of old racetrack (6/24)
Supreme Court deadlocks in closely-watched tribal jurisdiction case (6/23)
Matthew Fletcher: 'Huge win' for Mississippi Choctaw court system (6/23)
Native American Basketball Invitational draws top talent to Arizona (6/23)
Cheyenne River Sioux Tribe almost done with long-awaited theater (6/23)
Susanville Rancheria thanks lawmakers for help with land-into-trust (6/23)
Senate Committee on Indian Affairs schedules hearing on three bills (6/23)
Supreme Court backs affirmative action policy in long-running case (6/23)
Native Sun News: Senate committee takes on Indian Health Service (6/23)
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.