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Law Practice

Jul. 22, 2008

Bank Failures May Be Trouble For Lawyers

In the wake of the collapse of IndyMac bank, legal ethics experts are saying lawyers may face discipline or be found liable of malpractice as a result of representing clients who have investments in failed financial institutions.

By Amy Yarbrough
Daily Journal Staff Writer
This article appears on Page 1

      It was a question that woke Teresa up in the middle of the night last week: Could a lawyer be liable if the bank that held a client's trust account money went under?
      Teresa, who didn't want her last name made public, is the office manager for a small firm in Southern California. After reading news a...

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