The failure of California's IndyMac Bancorp Inc. and other smaller banks over the past year, along with the fear that more such failures are to come, has made many attorneys nervous.
Trust Accounts and Bank Failures
Many nervous attorneys are inundating their state and local bar associations with questions about what their personal and firm responsibilities are when client trust accounts are held in banks that fail. Bar associations are responding with Web postings and formal ethics opinions.
By
Janice G. InmanThis premium content is locked for LawJournalNewsletters subscribers only
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