If Your Bank Goes Under, Are Your Clients' Trust Account Deposits Fully Insured?
July 31, 2008
July 31, 2008
RICHMOND, Va., July 31 -- The Virginia State Bar issued the following news release:
Here is a question that makes lawyers very nervous as the list of failed banks1 and banks on the "watch list" grows: Could a lawyer be liable if the bank that held a client's trust funds went under? After reading news articles about the recent collapse of Pasadena-based mortgage lender IndyMac Bank, lawyers are making inquiries on state bar ethics hotlines. With financial institution . . .
Here is a question that makes lawyers very nervous as the list of failed banks1 and banks on the "watch list" grows: Could a lawyer be liable if the bank that held a client's trust funds went under? After reading news articles about the recent collapse of Pasadena-based mortgage lender IndyMac Bank, lawyers are making inquiries on state bar ethics hotlines. With financial institution . . .