IOLTA (Interest on Lawyers' Trust Accounts)
Created to fund legal services for the less fortunate, IOLTA accounts allow clients' short-term or small-dollar escrow funds to be deposited into an interest-bearing checking account. 1st Mariner Bank forwards the interest earned on this account to the Maryland Legal Services Corporation to pay for lawyers’ services for low-income people battling landlord/tenant issues, child custody disputes and advocacy for people with disabilities, among others.
Setting Up Your IOLTA
To find out how 1st Mariner Bank can help you set up and manage an IOLTA account, call 410-735-2003, stop by a branch near you or email us at Business1st@1stmarinerbank.com.
See our Business Schedule of Charges for additional details.