A Survey Of Fla. Fiduciary Duty Breach Claims Against Banks

By Andrew Steif (April 30, 2018, 12:27 PM EDT) -- Florida's federal and state courts have long held that generally, a bank or financial institution does not owe its customers a fiduciary duty. However, a large percentage of lawsuits filed against banks by their customers contain causes of action for breach of fiduciary duty. These claims find support in a small number of opinions from the Florida Supreme Court and other Florida state courts that held that a bank may owe a fiduciary duty to its customers under "special circumstances." All of these cases were decided multiple decades ago. Many recent opinions continue to cite the legal burden for a claimant to plead and prove that a bank owed a fiduciary duty....

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