Word: iolta
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...IOLTA program is the second largest provider of legal aid in the United States after Congress and helps to defray the cost of legal representation for those who could otherwise not afford it—such as the elderly and domestic abuse victims—according to Jayne Tyrrell, executive director of the Massachusetts IOLTA Committee...
Underneath the legal jargon, though, is a high-stakes ideologically charged debate about the way in which legal services for low-income Americans are financed. IOLTA generated about $150 million in legal aid grants last year for civil litigants...
...defenders of the IOLTA programs strongly disagree with Fried. Instead, they argue the program is constitutional because the interest generated would not have been returned to the clients anyway...
...Before IOLTA was implemented, the money was held in non-interest serving accounts,” Tyrrell said...
...activists, including Harvard Law School Lecturer Jeanne Charn, who is also the director of Hale and Dorr’s Legal Services Center in Jamaica Plain, have said they are also concerned about the implications the Supreme Court’s ruling may have on those who benefit from IOLTA funds...