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New FDIC Rule Averts IOLTA Trouble

December 2, 2008
/ Contract Attorney Primers

From: The National Law Journal, 2 December 2008

The FDIC has announced that, effective immediately, client funds deposited in Interest on Lawyer Trust Accounts — regardless of amount — are eligible for full deposit insurance coverage under the Temporary Liquidity Guarantee Program through Dec. 31, 2009. The ABA, law firms and individual lawyers had mounted a nationwide campaign to persuade the FDIC to include IOLTA funds in the expanded insurance program. For full article click here:

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