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Tuesday, November 25, 2008
Law - Still more on: "Lawyers worry about liability if banks holding client trust accounts fail"
Updating earlier ILB entries, the most recent here, Marcia Coyle of The National Law Journal is reporting, in a story to appear next Monday:
WASHINGTON — The Federal Deposit Insurance Corp. (FDIC) has announced that, effective immediately, client funds deposited in Interest on Lawyer Trust Accounts (IOLTA) — regardless of amount — are eligible for full deposit insurance coverage under the Temporary Liquidity Guarantee Program (TLGP) through June 30, 2009.The American Bar Association, state and federal lawmakers, community and consumer groups, law firms and individual lawyers had mounted a nationwide campaign to persuade the FDIC to include IOLTA funds in the expanded insurance program.
Posted by Marcia Oddi on November 25, 2008 01:29 PM
Posted to General Law Related