Navigating Client Trust Accounts in a Challenging Banking Climate

Attorneys' responsibilities to manage client accounts got a lot riskier in the wake of recent bank failures and the threat of additional instability. This program will briefly cover the current banking environment, but the greater focus is on equipping attorneys to address and mitigate the ongoing risks bank choice may create, both regarding compliance with state bar rules around client trust accounts, as well as potential civil liability. 

Learning Objectives:

1. Analyze how the banking laws currently apply, e.g., FDIC limits
2. Review basic obligations to place client funds in approved accounts and what types of accounts are typically acceptable
3. Identify the risks of making poor choices in identifying a bank, including from both ethics/compliance perspectives, and also with respect to potential civil liability
4. Discuss any recent enforcement actions in these areas to learn best practices and how to avoid becoming the target of an investigation or a defendant in a lawsuit
5. Explore risk mitigation actions that may be available