Following the failure of California's IndyMac and the very real potential of other bank collapses, lawyers have been flooding bar associations with questions about whether they would be responsible for client trust accounts if a bank fails. In response, bar associations have been posting guidance to lawyers on their Web sites, holding internal meetings on the issue and issuing formal ethics opinions.
Viability of banks with trust accounts an issue
The National Law Journal
October 9, 2008
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