News Updates

2011

Local Bar and Texas Young Lawyers Associations Supporting LSC Funding

Amarillo Young Lawyers Association

Austin Bar Association

Dallas Association of Young Lawyers

Dallas Bar Association

El Paso Bar Association

Galveston County Bar Association

Houston Bar Association

Houston Young Lawyers Association

Jefferson County Bar Association

Jefferson County Bar Foundation

Jefferson County Young Lawyers Association

Lubbock Young Lawyers Association

San Antonio Bar Association

Smith County Bar Association

Tarrant County Bar Association

Texas Young Lawyers Association

Tom Green County Young Lawyers Association

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2011
State and Local Associations Adopt Resolutions Supporting Funding for Legal Aid
    Association of Corporate Counsel-Austin Chapter
    Austin Bar Association 
    Austin Young Lawyers Association
    Brazos Valley Young Lawyers Association
    Dallas Asian American Bar Association
    Dallas Bar Association
    Fort Worth-Tarrant County Young Lawyers Assn.    
    Hidalgo County Bar Association
    Houston Bar Association
    Lubbock County Bar Association
    Mexican American Bar Assn. of El Paso
    Mexican American Bar Assn. of Texas
    San Antonio Bar Association
    San Antonio Young Lawyers Association
   
Smith County Bar Association
    State Bar of Texas
    Tarrant County Bar Association

    Texas Access to Justice Commission
   
Texas Judicial Council
    Texas Young Lawyers Association
    Travis County Women Lawyers' Association

 

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FDIC Protection of IOLTA Timeline

Dec. 30, 2010 -- See Statement from Richard L. Tate, TAJF Board Chair, on FDIC Protection of IOLTA Accounts
Dec. 29, 2010
-- President signs H.R. 6398 into law.
UPDATE: Dec. 22 --
Congress Passes Bill Requiring FDIC Protection of IOLTA!UPDATE: Dec. 13 -- Senate bill
UPDATE: Nov. 30 --
  The House passes H.R. 6398! 
Watch
Rep. Doggett's remarks. 

The Wall Street Reform Act (Dodd-Frank Act) inadvertently failed to include full FDIC coverage on IOLTA accounts (see Background below).  The current insurance expires Dec. 31 and we need a legislative fix before Congress goes into recess.  Please send a letter (sample below) in support of the House Bill filed by Texas Representative Lloyd Doggett to your local Congress member. 

  • House Bill 6398 by Representative Lloyd Doggett
  • Letter to congressional delegation from Dick Tate, Chair, Texas Access to Justice Foundation and Harry M. Reasoner, Chair, Texas Access to Justice Foundation and letter from State Bar President Terry Tottenham

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August 2009

Conference of Chief Justices and State Court Administrators Adopt Resolution in Support of Increased federal funding for the Legal Services Corporation.

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May 20, 2009

FDIC Deposit Insurance Coverage Reminder

Deposits at FDIC-insured institutions are now insured up to at least $250,000 per depositor through Dec. 31, 2013. On Jan. 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except for IRAs and other certain retirement accounts which will remain at $250,000 per depositor. (This supersedes the Oct. 3, 2008, changes.)

The extension announced on May 20, 2009, does not apply to the Transaction Account Guarantee Program. The unlimited coverage under the Transaction Account Guarantee Program is only in effect for depositors at participating institutions through Dec. 31, 2009.  This means that as of Jan. 1, 2010, funds held in IOLTA accounts, as well as those held in non-interest bearing transaction accounts, will be treated the same as the  funds held in all other FDIC insured accounts: each depositor's total funds held in the financial institution will be insured up to a total of $250,000.

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State Bar and Local Bars Adopt Resolutions Supporting Funding for Legal Aid

State Bar of Texas, April 1, 2009

Austin Bar Association, April 29, 2009

Cameron County Bar Association, April 20, 2009

Dallas Bar Association, March 19, 2009

El Paso Bar Association, March 23, 2009

Houston Bar Association, March 23, 2009

Lubbock County Bar Association, March 9, 2009

San Antonio Bar Association, April 14, 2009

Smith County Bar Association, March 20, 2009 

Texarkana Bar Association , May 12, 2009 

Texas Young Lawyers Association , May 2, 2009 

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Jan. 19, 2009

"Interest Rate Drop Has Dire Results for Legal Aid", New York Times

 Jan. 13, 2009
 
Texas Supreme Court Orders Changes to IOLTA Rule Calculation Court Orders New Calculation for IOLTA Accounts

Jan. 2, 2009

Opinion by Justice O'Neill in San Antonio Express-News "Legal aid is crucial to a fair system"

Dec. 23, 2008

NPR Marketplace features Texas in "Legal aid funding on the decline"

Free Online Legal Help Now Available for Hurricane Ike Victims

Nov. 21, 2008
Texas Supreme Court Requires Attorneys to Place IOLTA Accounts at Eligible Banks

On Nov. 21, 2008, the FDIC extended its unlimited protection of non-interest bearing accounts under the Temporary Liquidity Guarantee Program (TLGP) to include Interest on Lawyers’ Trust Accounts (IOLTA).  An individual client's funds deposited in IOLTA accounts are fully insured regardless of the amount.  This provision took place immediately and is valid through December 31, 2009. 

As long as your account is at a bank that has opted-in to this program, you no longer have to worry about whether IOLTA account balances will be insured, nor do you need to worry about establishing IOLTA accounts at several different financial institutions. The entire balance in your IOLTA account will be insured by the FDIC under the TLGP.  You may leave your IOLTA account as is and be assured that the interest earned will continue to fund legal aid for low-income Texans. 

The December 2008 Texas Bar Journal included an article on "Client Trust Accounts and the Financial Crisis" that went to press before this November ruling by the FDIC.    You may refer to the FDIC’s web site http://www.fdic.gov/regulations/resources/TLGP/faq.html for more information

 

Recent News

 

March 10, 2014

Growing Number of Texas Lawyers are Banking on Justice - Public News Service

Jan. 30, 2014

TAJF Honors William O. Whitehurst for Efforts in IOLTA Program's Beginning

Jan. 17, 2014

TAJF Marks 30th Anniversary, Joins With LSC For Panel, Texas Pro Bono Service Awards

January 2014

TAJF Turns 30 this year! See information about our Anniversary Kickoff Event, Jan. 23  

December 2013

Read about "Success Stories" 2013 and how you can help TAJF write new stories 

Nov. 19, 2013

Texas Corporate Counsel Community Raises $48,000 for Civil Legal Services

Nov. 18, 2013

State Bar of Texas Announces Move to a Prime Partner Bank

November 2013

Serving the Legal Needs of Those Who Served - Veterans Day 2013

November 2013

November is Prime Partner Bank Recognition Month!

Oct. 29, 2013

TAJF Seeks Director of Finance

Oct. 22, 2013

National Pro Bono Week Kickoff Event Honors New Supreme Court Justice and Access to Justice Supporters

Oct. 18, 2013

The application period for the Texas Equal Justice Works Fellowship program has been extended to Dec. 1

Sept. 13, 2013

TAJF Announces 2013-14 Grant Awards

Sept. 10, 2013

TAJF Announces 2013 Texas Equal Justice Works Fellows

Sept. 4, 2013

Ferguson and Tottenham appointed to TAJF Board

July 19, 2013

TAJF Announces Grants for Veterans' Legal Services

May 28, 2013

Texas Legislature Provides Funding for the State's Legal Aid System

May 16, 2013

Fort Bend County Banks Receive Prime Partners in Justice Award

 

 

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