What is expected of the bank in a fiduciary relationship with the customer?

In a fiduciary relationship, the bank has a legal and ethical obligation to act in the best interests of the customer. This means that the bank must prioritize the customer's needs and well-being above its own interests or profits. Acting in good faith encompasses honesty, transparency, and fairness in all dealings with the customer. It includes providing suitable advice, ensuring that the customer is adequately informed about the financial services offered, and managing the customer's assets responsibly.

The other options do not align with the core principles of a fiduciary duty. Charging higher fees would not be considered acting in the best interest of the customer. Investing in high-risk ventures may not be suitable for the customer, especially if it does not match their risk tolerance or financial goals. Limiting communication with the customer goes against the duty to keep them informed and engaged in their financial matters. Therefore, acting in good faith is the fundamental expectation of the bank in a fiduciary relationship with the customer.