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Millions of dollars at stake in statewide bankers vs. lawyers dispute

Roiled by a rule change that forces banks to pay higher interest payments for certain accounts, Florida bankers see legislation as a solution. The Florida Bar sees the controversy differently.

By Louis Llovio
| 5:00 a.m. February 1, 2024
| 0 Free Articles Remaining!

The Florida State Capitol in Tallahassee

Florida

Two identical bills are working through the Florida Legislature to address an obscure rule change that governs how much interest banks pay on specific trust accounts held by lawyers.

Notably the changes — which have pitted the Florida Bankers Association against the Florida Bar — could also affect how much money is generated to help fund legal aid organizations statewide.

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author

Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.