INTEREST RATES ON IOLTA ACCOUNTS
Ask your bank its current IOLTA interest rate (250-plus California banks offer IOLTA accounts), or e-mail us at email@example.com.
Through the years, many financial institutions have taken a leadership role by increasing rates and reducing or waiving fees on their IOLTA accounts. The generosity of these banks has increased access to justice for hundreds of thousands of people who otherwise would have nowhere to turn for help.
Under amended Business & Professions Code Sections 6091.2, 6211, 6212, and 6213 effective January 1, 2008, the law requires California lawyers to place IOLTA accounts only at financial institutions that pay dividend or interest rates to IOLTA customers comparable to rates paid to similarly situated non-IOLTA customers, and that meet other requirements.
Below is a list of financial Institutions that have met IOLTA-eligibility requirements:
For more information about becoming an “IOLTA-Eligible” financial institution, please e-mail IOLTA@calbar.ca.gov or call 415-538-2252 request the following documents:
For questions, e-mail IOLTA@calbar.ca.gov or call 415-538-2252.