By federal law, as of 1/1/2013, funds in a noninterest-bearing transaction account (including IOLTA/IOLA) will no longer receive unlimited deposit insurance coverage, but will be FDIC-insured to the legal maximum of $250,000 for each ownership category.
For more information, visit http://www.fdic.gov/deposit/deposits/unlimited/expiration.html

For more information about temporary FDIC insurance coverage of transaction accounts,
visit www.fdic.gov.