A tangled web: IOLTA and the banks

Article Abstract:

The June 1998 US Supreme Court decision in 'Phillips v. Washington Legal Foundation' stated that the interest from bank deposits which lawyers hold for their clients rightfully belong to the clients and not to the lawyers. Supporters of the Interest on Lawyers' Trust Accounts (IOLTA) program had argued that interest on nominal deposits can be used without the knowledge and consent of the owners for socially relevant causes approved by the bar. However, the June 1998 decision reverses the rules of the game and banks and practicing lawyers can now go against the IOLTA.

Commercial Banks, Commercial Banking, Legal services, Attorneys, Offices of Lawyers, Lawyers, Right of property, Property rights

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Lessons from the savings and loan debacle: the case for further financial deregulation

Article Abstract:

The savings and loans crisis can be traced to excessive regulation and federal deposit insurance which was responsible for the high cost of the debacle and abuses which resulted from the government sponsored efforts to protect the industry. Some of the recommended measures to solve the problems include the application of consistent closure standards across the board for all institutions, tougher capital standards and an effective examination process enforcing the capital standards.

Analysis, Deregulation, Savings and Loan Associations Bailout Crisis, 1987-

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Banking on free markets

Article Abstract:

Congress is divided on the question of whether to revise or repeal the 1933 Glass-Steagall Act that divided the banking industry into the commercial and investment banking sectors. Analysts believed that the proposal is long overdue while some congressmen are concerned that the proposal would lead to problems in the banking industry. If approved, the proposal would allow commercial banks to deal in investment products and vice versa.

United States. Congress

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