The Dood Frank act brought unlimited FDIC insurance for Interest on Lawyers Trust Accounts (IOLTA) accounts, that feature of the law has not been renewed after expiring 12/31/12.

Law Firms should put controls in place to catch balances over the $250,000 limit and determine how best to handle. As a fiduciary of their clients funds a firm could be put at risk if a bank holding those funds is put into receivership.

Contact ProtectLawyers.com today to discuss better protecting your firm against adverse events.