Who We Are
The ABA Commission on IOLTA supports the operation of IOLTA programs nationwide. It also maintains the IOLTA Clearinghouse, which provides information, materials and technical assistance on IOLTA program design and operation. For information on what IOLTA is and how it works click here.
News of Note
FDIC Extends Rule Affecting Insurance on IOLTA Accounts
On September 1, 2009, the FDIC amended the Temporary Liquidity Guarantee Program (TLGP) and extended the Transaction Account Guarantee Program (TAG) for six months, until June 30, 2010. Under the final Rule, funds in IOLTA accounts will continue to be fully guaranteed by the FDIC, without limit, for participating financial institutions. Read more...
Recent IOLTA Rule Changes
In December 2009, both the South Carolina Supreme Court and the Washington State Supreme Court approved rate comparability revisions to their IOLTA rules. This IOLTA revenue enhancement strategy 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. The amendments became effective immediately in Washington State and will become effective in South Carolina on June 15, 2010. With the addition of these two states, there are now 30 U.S. jurisdictions that have adopted IOLTA rate comparability.
The Kentucky Supreme Court has recently approved amendments to the state’s IOLTA rule which include mandatory IOLTA and interest rate comparability provisions. The amendments will become effective on January 1, 2010. With this change, Kentucky became the 41st state to adopt mandatory IOLTA.
IOLTA at Work
IOLTA programs provide funding critical to maintaining and improving access to the justice system in communities across the United States. Depending on the state, IOLTA dollars go to support civil legal assistance for poor people, efforts to improve the administration of justice by our courts, initiatives to educate the public about legal issues, and scholarships and clinical instruction for law students.
Here are some recent stories about the organizations and initiatives funded by IOLTA programs:
- IOLTA at work in Missouri: Legal Aid of Western Missouri Helps Communities Survive the Foreclosure Crisis (Fall 2009)
- IOLTA at work in West Virginia: Opening the Door: the West Virginia Fund for Law in the Public Interest(Summer 2009)
- IOLTA at work in New Mexico: Enlace Comunitario - Giving a Voice to Immigrant Victims of Domestic Violence (Spring 2009)
- IOLTA at work in Hawaii: Multi-lingual Radio Program for Legal Education and Outreach in Hawaii (Winter 2009)
IOLTA in Your State
Visit our Directory of IOLTA Programs in the United States and Canada.
Commission Activities
2010 Summer IOLTA Workshops
The 2010 Summer IOLTA Workshops will take place on August 5-6, 2010, in San Francisco, California at the Nikko Hotel. Plan now to join your IOLTA colleagues for two days of topical sessions for IOLTA program executive directors, staff members and trustees. The IOLTA Workshops are co-sponsored by the ABA Commission on IOLTA and the National Association of IOLTA Programs. Detailed registration information will be available online shortly.
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