History of IOLTA Video

The ABA Commission on IOLTA and the National Association of IOLTA Programs proudly present this production of the history of IOLTA in North America with generous support from The Florida Bar Foundation, The Law Foundation of British Columbia, and The Alberta Law Foundation. View the video »

NCUA Insurance Coverage for IOLTA Accounts in Credit Unions

On December 11, 2014, the U.S. Senate passed a bill (known as the Credit Union Share Insurance Fund Parity Act) that provides the same level of insurance coverage for IOLTA accounts held at credit unions that the FDIC provides for IOLTA accounts held at banks. The bill previously had been passed by the House of Representatives on May 6, 2014. It was signed into law by the President on December 18, 2014. Read more...

FDIC Insurance Coverage Changes for IOLTA and Non-Interest-Bearing Accounts

As of January 1, 2013, FDIC insurance available to IOLTA accounts is $250,000 per owner of the funds (client), per financial institution, assuming that the account is properly designated as a trust account and proper accounting of each client’s funds is maintained. Non-interest-bearing trust accounts have this same level of coverage. Read more...

Recent IOLTA Rule Changes

On June 17, 2014, the Colorado Supreme Court entered an order adopting IOLTA interest rate comparability, effective immediately. Colorado is the 34th U.S. jurisdiction to implement interest rate comparability, which requires that all lawyers hold IOLTA accounts only in financial institutions that pay those accounts the highest interest rate or dividend generally available to other customers of the institution when IOLTA accounts meet the same minimum balance or other qualifications.

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