The ABA agrees that exploitation of law students and other interns is unacceptable; however, the FLSA uncertainty inhibits law firms from offering students the opportunity to work on pro bono matters in a real-life practice setting. …
Furthermore, in the current economic climate with shrunken employment opportunities for law school graduates, hindering the ability of law students and recent graduates to work side-by-side with experienced lawyers who could provide both strong mentoring and favorable substantive references unnecessarily reduces access for future employment prospects.
— Laurel Bellows, president of the American Bar Association, in a letter to the U.S. Department of Labor endorsing the use by private law firms of unpaid law student and graduate labor.

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(Absurd and out of touch? I’d say so. Keep reading to see the entire letter.)
ABA Letter to Dept. of Labor: Legality of Unpaid Interns

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Law Students Should Be Able to Work for Free, Says ABA [WSJ aw Blog (sub. req.)]
Do unpaid pro bono internships violate the law? ABA says they should be allowed [ABA Journal]