Interest on Lawyers' Trust Accounts

Interest on Lawyers' Trust Accounts (IOLTA) is a method of raising money for charitable purposes, primarily the provision of civil legal services to indigent persons, through the use of interest earned on certain lawyer trust accounts. The establishment of IOLTA in the United States followed changes to federal banking laws passed by Congress in 1980 which allowed some checking accounts to bear interest.

Source: Wikipedia — Interest on Lawyers' Trust Accounts (CC BY-SA 4.0)

Interest on Lawyers' Trust Accounts

Interest on Lawyers' Trust Accounts (IOLTA) is a method of raising money for charitable purposes, primarily the provision of civil legal services to indigent persons, through the use of interest earned on certain lawyer trust accounts. The establishment of IOLTA in the United States followed changes to federal banking laws passed by Congress in 1980 which allowed some checking accounts to bear interest.

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Source: Wikipedia "Interest on Lawyers' Trust Accounts" · CC BY-SA 4.0

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