The most recent State budget slashed funding for legal services for the poor. Last week, the House passed a bill that would put even more aid at risk.
The legislation would change how something called IOLTA works.
IOLTA stands for ‘Interest on Lawyers Trust Accounts’.
When a client hands money over to a lawyer for a short period of time, say, while a real estate deal is being closed, the lawyer puts the money into a pooled account. That account earns interest.
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