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Banks' Level of Exposure Towards Clients & Third Parties |
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Israeli statutory law relates to the banks as powerful and proficient entities which have the advantage over the typical client, and therefore imposes on the banks a series of specific and general duties towards their clients. According to the Banking Law (Service to Customers) - 1981 the bank owes special duties towards its clients such as: a duty of proper disclosure of the services provided by the bank and of the banking commission charged, a duty not to mislead, a duty not to take advantage of language barriers or of a client in mental or physical distress, etc.
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