To require the Federal Deposit Insurance Corporation to fully insure Interest on Lawyers Trust Accounts.
Public Law 111-343 · H.R. 6398 · 111th Congress · began in the House
Signed by Barack Obama (D) on Dec 29, 2010 · Finance and Financial Sector
Sponsor: Rep. Lloyd Doggett (D-TX-25)
Cosponsors (2): Rep. Luis Gutiérrez, Rep. John Sarbanes
Passage votes
- HouseVoice vote
- SenateUnanimous consent
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
Amends the Federal Deposit Insurance Act, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to treat as a noninterest-bearing transaction account fully insurable by the Federal Deposit Insurance Corporation (FDIC) any Interest on Lawyers Trust Account (or functionally equivalent account) established by an attorney or law firm on behalf of a client.
Committees
The committees the bill was sent to, and what each did with it.
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Related bills
1 bill the Library of Congress relates to this one.
S. 4052Identical bill
A bill to require the Federal Deposit Insurance Corporation to fully insure Interest on Lawyers Trust Accounts.
Data notes
Related bills are identified by the Congressional Research Service, the House and the Senate: companion and identical bills, bills with similar text, bills that were folded into this law, and rules that brought it to the floor. A bill that is itself a public law in this site’s data links here; the others link to Congress.gov.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 14 actions.
- Dec 29, 2010Became lawBecame law · Became Public Law No: 111-343.
- Became lawBecame law · Signed by President.
- Dec 23, 2010FloorFloor · Presented to President.
- Dec 22, 2010FloorFloor · Message on Senate action sent to the House.
- FloorFloor · Passed Senate without amendment by Unanimous Consent.
- OtherOther · Cleared for White House.
- Dec 1, 2010CommitteeCommittee · Received in the Senate, read twice.
- Nov 30, 2010FloorFloor · Motion to reconsider laid on the table Agreed to without objection.
- FloorFloor · On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
- FloorFloor · DEBATE - The House proceeded with forty minutes of debate on H.R. 6398.
- FloorFloor · Considered under suspension of the rules.
- FloorFloor · Mr. Doggett moved to suspend the rules and pass the bill, as amended.
- Nov 15, 2010CommitteeCommittee · Referred to the House Committee on Financial Services.
- IntroducedIntroduced · Introduced in House
Data notes
Every action the Library of Congress lists for the bill, from introduction to signing, plus the dated committee hearings. The source lists many steps twice (the chamber’s own entry and the Library of Congress copy, or a presidential and a became-law entry with the same words); those are shown once. Amendments are listed in their own section.
Amendments
No amendments to this bill are on record.
Data notes
Amendments offered to this bill in either chamber, as the Library of Congress records them: each with a status read from its last recorded step: agreed to, rejected, withdrawn, ruled out of order, fell with another amendment, or offered with no vote recorded (most Senate amendments are only ever offered). The wording of each amendment is the source’s. Amendments to amendments and amendments to other bills are not listed.
Official record
The bill’s full text is on Congress.gov. Data through Oct 7, 2026.