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New IOLTA debate looms (access required)

In 1995, the Dow was at 4,000. Windows 95 was the latest operating system. America Online, with its cheerful “You’ve got mail!” refrain, ruled the Internet. The country mourned the victims of the Oklahoma City bombing. Forrest Gump won the Academy Award for Best Picture. And the General Assembly put an end to mandatory IOLTA for ...

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2 comments

  1. These accounts should be named not “IOLTAs” but “IOCTAs”, for “Interest On CLIENT Trust Accounts.” The money in these accounts belongs not to rich lawyers, but to poor clients, and clients should not be forced to support liberal political organizations, such as the Legal Services Corporation of Virginia, whose goals they may not share.

  2. Ditto on Carlos’ comment.

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