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Gerri was advised by the Royal Bank of Commerce that their .5% interest rate on deposits was the best in the area. Thus she transferred
Gerri was advised by the Royal Bank of Commerce that their .5% interest rate on deposits was the best in the area. Thus she transferred the family savings of $56,000 to the bank. After advising her husband Jon that she transferred their funds to the bank for the good rates, he advises her that Bank of America, Wells Fargo, and Bank of Pomona are all paying over 1.5%. He said that the Royal bank of Commerce breached its fiduciary duty and is liable. Who would win the court case for failure to act in a fiduciary manner? Why?
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