In the News

New York Governor Provokes Ire Of Biglaw (Above the Law)

Above the Law, February 14, 2024 

New York Governor Provokes Ire Of Biglaw 

The New York City Bar Association wrote their own letter about the plan, ‘Food security, shelter, jobs, health care and other life necessities would be at risk if these non-taxpayer, IOLA funds were to be diverted.’ In another letter, social service agencies including Access to Justice Brooklyn, Community Service Society of New York, and the City Bar Justice Center, opposed Hochul’s plan: ‘Ethics opinions approving attorney use of IOLA accounts were expressly predicated on the IOLA Fund enhancing civil legal services to low-income New Yorkers,’ they said. ‘Therefore, diversion of any IOLA interest to the General Fund could jeopardize the legal profession’s ethical basis for participating in the IOLA Fund.’