Legislation & Lobbying
ABA urges FDIC to modify final deposit insurance rule to protect confidentiality of client trust accounts
ABA President Paulette Brown urged the Federal Deposit Insurance Corporation (FDIC) last month to revise its proposed deposit insurance recordkeeping rule to state that confidential information regarding law firms’ client trust accounts held at large banks need not be disclosed to the financial institution or the FDIC unless and until the institution fails.