2026-09-22 17:17 UTC
> Many law firms set to fail without interest income
Honestly, this baffles me.
I am not a conveyancer, and I do not have a client account, but I struggle, ethically, with the idea of law firms pocketing the interest earned on their clients' money.
https://www.lawgazette.co.uk/news/many-law-firms-set-to-fail-without-interest-income-benchmarking-survey/5127964.article
Replies (1)
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@fak@cupoftea.social 2026-09-22 17:36
@neil@mastodon.neilzone.co.uk I received a refund last year of 'enhanced interest on client funds' from a company who were managing a rented property that had not got consent to retain the excess - so it seems like other businesses have to keep their houses in order and get proper consent if they want to pay a lower rate and not return all interest generated on client funds (it was just over £100 generated over 10 years, so not massive to us, but scale it up...). Not sure why the legal industry would be different (though if you can get people to sign away their rights...).