Bankowość i finanse · 28/12/2015

NCUA to Implement Enhanced Pass-Through Share Insurance for Lawyers Trust Accounts

The NCUA Board is amending its share insurance regulations to provide enhanced pass-through share insurance for interest on lawyers trust accounts (IOLTA) and other similar escrow accounts, following the recent enactment of the Credit Union Share Insurance Fund Parity Act. This change aims to ensure that NCUA and the FDIC insure IOLTAs and other similar accounts in an equivalent manner, as mandated by the Insurance Parity Act.