U.S. to pay Indian tribes more than $1B

The federal government said it will pay more than $1 billion to settle a class-action lawsuit brought by American Indian tribes over mismanagement of tribal money and trust lands.

The agreement resolves claims brought by 41 tribes nationwide to reclaim money lost in mismanaged accounts and from royalties for oil, gas, grazing and timber rights on tribal lands, Attorney General Eric Holder said. The settlement was announced jointly by the Justice Department and the Interior Department, which manages more than 100,000 leases on tribal trust lands and about 2,500 tribal trust accounts for more than 250 federally recognized tribes.