The proposal encourages financial institutions around the state to provide interest rates for Interest on Lawyer Trust Accounts (IOLTA), comparable to those of similar business accounts.
(see this earlier post on the filing of the Petition)
Though the State Bar’s Board of Governors unanimously voted to support of the petition at its May 7 meeting, some questioned the peripheral impact of the proposal.
Update: Legal service groups could see IOLTA grants decline, Wisconsin Law Journal, May 19, 2008
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