Prime Partners
The Texas Access to Justice Foundation works closely with Texas banks to ensure their participation in the Interest on Lawyers’ Trust Accounts (IOLTA) Program. Per Supreme Court of Texas rules, IOLTA accounts must be held at banks that pay interest rates comparable to similarly situated accounts.
Prime Partner banks, listed
below, go above and beyond eligibility requirements by
paying,
net of allowable reasonable fees, the higher
of 1) 75.00%
or more of the Fed Funds Target Rate; or 2) a minimum of 1.00% on IOLTA
accounts. The additional interest ensures more funding for
legal aid. The State Bar of Texas passed a
resolution
to urge support of the Prime Partner program in January 2011. Prime Partner Bank Locations
Since September 2007, the Federal Reserve has lowered the Fed Funds Target Rate from 5.25% to a range of 0 - .25 %. This means that IOLTA projected revenue continues to decrease as well. You can help by doing one the following:
View all eligible banks. |
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