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November 2, 2016
1:00PM - 2:00PM

E-Banking Rules for IOLTAs: What Bankers Need to Know

Webinar

Member $199 | Non-Member $398

E-Banking Rules for IOLTAs:  What Bankers Need to Know

The Wisconsin Supreme Court recently amended its trust account rule to enable lawyers to utilize electronic transactions in IOLTAs and other trust accounts. Lawyers can now utilize a wide variety of e-banking transactions, including remote deposits, credit, debit and other card deposits, and electronic disbursements in either an E-Banking Trust Account or a standard IOLTA trust account. However, the new rule also requires lawyers to record certain information in their financial institution’s electronic payment system. In addition, lawyers are responsible for the security of each transaction in their trust accounts and will be looking to their financial institutions for assistance in determining what is necessary to assure that commercially reasonable security is in place.  

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