Recently, our firm assisted the Alabama Bankers Association, together with the Florida Bankers Association represented by Akerman, LLP, in Orlando, in filing a joint amicus brief before the 11th Circuit, on a crucial lending issue. The case involved a bank commercial loan in Florida, and thus invoked Florida law, but there is also relevant law on point in Alabama and other states. A key issue addressed by the brief is whether a commercial bank has a separate fiduciary duty to advise a customer-borrower (and any related guarantors) about the advisability of the borrower (or guarantors) incurring the debt. Continue reading >