There are more than 160 California banks that offer Interest on Lawyers' Trust Accounts (IOLTA). Ask your bank what the current IOLTA interest rate is. You can also check our list of eligible institutions or email us at firstname.lastname@example.org.
Through the years, many financial institutions have taken a leadership role by increasing rates and reducing or waiving fees on 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.
The amended Business and Professions Code sections 6091.2, 6211, 6212, and 6213, the law requires California lawyers to place IOLTA accounts only at financial institutions that pay a 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 email IOLTA@calbar.ca.gov or call 415-538-2252.