Property Rights, the First Amendment, and Interest-Bearing Checking Accounts: A Brief Legal History of IOLTA Programs

Established in the early 1980s, Interest on Lawyers’ Trust Accounts (IOLTA) programs have now become a common fixture nationwide. Despite their widespread adoption, however, IOLTA has been subject to several constitutional challenges over the years. According to the American Bar Association (ABA), IOLTA is a “method of raising money for charitable purposes, primarily the provision