Welcome to the website for the North Carolina State Bar Plan for Interest on Lawyers’ Trust Accounts—NC IOLTA. NC IOLTA is a non-profit program created by the State Bar and approved by the North Carolina Supreme Court. NC IOLTA works with lawyers and banks across the state to collect net interest income generated from lawyers’ general, pooled trust accounts for the purpose of funding grants to providers of civil legal services for the indigent and to programs that further the administration of justice.
Bank of America Settlement Directs Funds to Legal Aid
In August 2014, Bank of America reached a settlement with the US Department of Justice related to their mortgage practices. Of the more than $7 billion in consumer relief, the settlement includes at least $30 million for Interest on Lawyers' Trust Account (IOLTA) programs across the country. The terms of the settlement direct funds to be used for the provision of foreclosure prevention and community redevelopment legal services. Read more about the settlement and impact on North Carolina IOLTA.