Requirements for Designation as an Eligible Bank
Banks not found on the Eligible Bank List must submit a compliance statement and required documentation and receive approval prior to opening any NC IOLTA accounts. Once a bank has received approval and been added to the Eligible Bank List, their IOLTA product must adhere to their approved Compliance Statement. Once a bank has received approval and been added to the Eligible Bank List, the bank has a continuing responsibility to ensure their IOLTA product adheres to their approved Compliance Statement and the rate offered to IOLTA remains comparable as other products and rates within the bank change.
For banks on the Eligible Bank List, prior to making changes to your IOLTA product a new Compliance Statement must be submitted and approved. For a copy of your current Compliance Statement, please contact the IOLTA office.
Be A Prime Partner Bank
The NC IOLTA Program wishes to recognize North Carolina financial institutions for their commitment to improving access to justice in their community by inviting them to participate in our Prime Partner Program. Prime Partner Institutions are those that go above and beyond the eligibility requirements of the revised Rule to support the NC IOLTA program in its mission to ensure that low-income North Carolinians have access to critically needed legal aid.
Click here for information on how to become a Prime Partner Bank, and the benefits of being a Prime Partner Bank.