If Connecticut lawyers could bestow halos, New York-based Hudson Valley Bank would definitely get one. The financial institution, which has operated a half dozen Connecticut branches, pays an interest rate on lawyers trust accounts that is "way, way above other banks," according to Connecticut Bar Foundation executive director Sandra Klebanoff.
That’s critical to the state’s legal aid agencies, which in the past derived much of their funding from the so-called IOLTA accounts, but have watched that money dwindle in recent years due to plunging interest rates. "It’s one of our recognized leadership banks," said Klebanoff, whose foundation funnels money to legal aid agencies.
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