On August 7, 2025, President Trump issued Executive Order 14331 which is aimed at preventing perceived discrimination in the banking system based on an individual’s or business’s political beliefs, religious beliefs or lawful business activities. The Executive Order has prompted regulator action on the issue, including requirements that some institutions submit a report to the Small Business Administration (SBA) outlining any politicized or unlawful debanking that has occurred. The Executive Order will necessitate financial institutions to carefully review their policies to ensure they are in compliance with the Executive Order’s goals. Listen in to this important presentation to help be prepared for the impact of the Executive Order. We will also discuss the “debanking” report being required by the SBA, and other updates related to the Executive Order. Handout to be posted Thursday, September 18th.
Friday, September 19, 2025
12:00 - 1:30 p.m.
Financial institutions that open and establish Interest on Lawyers’ Trust Accounts (IOLTAs) are required to comply with certain interest and other reporting requirements under the Business & Professions (B&P) Code and State Bar Rules, specifically with respect to IOLTAs. AB 3279 adds new Section 6091.3 to the B&P Code which requires beginning in 2026 that financial institutions collect an attorney’s license number upon the establishment of any new client trust account, not just IOLTAs, and to annually report to the State Bar certain information for every client trust account, including the name of the attorney or law firm associated with the client trust account.
Please join us at the September Monthly Telephone Briefing where we will discuss the new compliance obligations applicable to attorney client trust accounts that will become effective on January 1, 2026. Handout to be posted Thursday, September 18th.
