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State Bar & Bar Associations

Apr. 24, 2020

8 financial institutions join bar’s program offering higher trust account interest

Lawyers handling client funds that are too small or held too briefly to earn interest must participate in the program but they can choose a bank that offers higher interest, which goes to nonprofits providing indigents legal services.

Eight more financial institutions agreed to help provide free legal assistance to indigent Californians through the Interest on Lawyers' Trust Accounts program, the State Bar announced.

The bar's Board of Trustees has approved a distribution of $55.6 million from the program this year.

The latest banks to join are Bank of the Orient, Commercial Bank of California, First Bank, Nano Banc, New Omni ...

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