The Florida Bar
www.floridabar.org

Financial Management

Accounting

Dodd-Frank Act of 2010 (June 26, 2010)
US House and Senate conference committees have approved an exclusion for the practice of law from the provisions of the financial markets reform legislation.
ABA President Lamm Statement re: “Exclusion for the Practice of Law” in “Dodd-Frank Act of 2010″ External Link

ABA Task Force on Gatekeeper Regulations: Help on preventing illegal funds transfers or suspicious financial transactions. External Link


Credit Cards
Florida lawyers often ask LOMAS advisors if it is okay to accept credit cards. Our position is that it makes good business sense to accept credit cards for both attorney fees and advanced cost from the client. However, managing transactions which require trust account activity creates a unique set of challenges for the law firm. The article below addresses some of those fundamental problems. The good news is that the merchant providers are developing products specifically designed for attorneys, which simplify credit card acceptance and tracking. Please note that the merchant provider (Attorney Credit Card Services) mentioned in this 2004 article has changed their name to Law Charge, Inc., at www.lawcharge.com External Link.

Should Your Firm Be Accepting Credit Cards?

The Florida Bar Member Benefit Program

Law Pay: Law Firm Merchant Account

[Revised: 03-19-2014]