- EnactedDecember 29th, 2010The President signed this bill into law
- The senate Passed December 22nd, 2010Passed by Voice Vote
- The house Passed December 1st, 2010Passed by Voice Vote
House Committee on Financial ServicesIntroducedNovember 15th, 2010
- house Committees
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To require the Federal Deposit Insurance Corporation to fully insure Interest on Lawyers Trust Accounts.
Amends the Federal Deposit Insurance Act, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to treat as a noninterest-bearing transaction account fully insurable by the Federal Deposit Insurance Corporation (FDIC) any Interest on Lawyers Trust Account (or functionally equivalent account) established by an attorney or law firm on behalf of a client.