Banking
Dec. 28, 2010
Senate Passes Bill to Support IOLTA
In a unanimous vote on Wednesday, the last day of the 111th Congress, the Senate passed legislation to patch a gap in coverage for the "Interest on Lawyer Trust Accounts," which all 50 states use to help fund legal aid programs.
Daily Journal Staff Writer
Somewhere between repealing "don't ask, don't tell" and giving health benefits to 9/11 first responders, the lame duck Congress ensured that lawyers' interest-bearing client trust accounts are fully protected by the Federal Deposit Insurance Corp. no matter how large the accounts become.
In a unanimous vote on Wednesday, the last day of the 111th Congress, the Senate passe...
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