Amends the Federal Deposit Insurance Act, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to treat as a noninterest-bearing transaction account fully insurable by the Federal Deposit Insurance Corporation (FDIC) any Interest on Lawyers Trust Account (or functionally equivalent account) established by an attorney or law firm on behalf of a client.
Became Public Law No: 111-343.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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