After more than a decade of litigation, U.S. officials announced Tuesday that the federal government has agreed to pay $1.4 billion to settle claims that it grossly mismanaged Indian trust accounts.

The potential settlement, which must still be approved by Congress and the courts, would bring to a close the long-running Cobell Indian trust case, and would result in payments to roughly 300,000 individual Indian trust accounts. It would also create a program to consolidate ownership of Indian trust lands.

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