A federal judge is questioning the selection of banks that will hold settlement funds for the Keepseagle case over discrimination at the Department of Agriculture.

The plaintiffs have identified five banks -- including one owned by the Chickasaw Nation -- to hold and invest settlement funds. Judge Emmet Sullivan said more efforts should be made to include Indian and minority-owned banks in the process.

"I would think that's what the plaintiffs' class would want," Sullivan said at a hearing yesterday, The Blog of Legal Times reported.

Four big banks -- Bank of America Corporation, Wells Fargo & Company, Citigroup, Inc. and PNC Financial Services -- would each hold about about $150 million. The tribe's Bank2 will hold about $18 million.

The Obama administration settled the case for $760 million -- $680 million in payments to Indian ranchers and farmers and $80 million for a loan forgiveness fund. The banks are expected to hold the money for about a year to 18 months before it's distributed to Indian ranchers and farmers.

Get the Story:
D.C. Judge Questions Bank Selection in Native American Class Action (The Blog of Legal Times 4/27)

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:
Banks identified for settlement funds in Keepseagle case (4/26)
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)