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  • EnactedDecember 29th, 2010
    The President signed this bill into law
  • The senate Passed December 22nd, 2010
    Passed by Voice Vote
  • The house Passed December 1st, 2010
    Passed by Voice Vote
      house Committees
      House Committee on Financial Services
    IntroducedNovember 15th, 2010

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Bill Details

Official information provided by the Congressional Research Service. Learn more or make a suggestion.
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Official Title

To require the Federal Deposit Insurance Corporation to fully insure Interest on Lawyers Trust Accounts.

Summary

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.

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