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KESSELMAN v. NATIONAL BANK OF ARIZONA

No. 1 CA-CV 95-0551.

188 Ariz. 419 (1996)

937 P.2d 341

Stanley KESSELMAN, as Trustee of the Gilbert & Sullivan Mortgage Company, Inc. Profit Sharing Plan; ArMA Membership Benefits, Inc., as Custodian, FBO Daniel N. Karsh, M.D. IRA Rollover; ArMA Membership Benefits, Inc., as Custodian, FBO Thomas E. Newman, M.D. IRA Rollover; Martin Rosenthal, as Trustee of the Martin G. Rosenthal, M.D., P.C. Profit Sharing Plan; and Phyllis Reuss, as Trustee Of The Phyllis S. Reuss, M.D., P.C. Employees' Retirement Plan, and as Trustee of the Phyllis S. Reuss, M.D. Family Trust, Plaintiffs-Appellants, v. THE NATIONAL BANK OF ARIZONA, a National banking institution, Defendant-Appellee.

Court of Appeals of Arizona, Division 1, Department C.

Review Denied May 20, 1997.

Attorney(s) appearing for the Case

Galbut & Conant by Martin R. Galbut and Paul A. Conant, Phoenix, for Plaintiffs-Appellants.

Snell & Wilmer by Lonnie J. Williams, Jr. and Lisa M. Coulter, Phoenix, for Defendants-Appellees.

OPINION

KLEINSCHMIDT, Judge.

The plaintiffs, a group of private investors to whom we will refer as "the Lenders," appeal an order granting summary judgment against them in favor of National Bank of Arizona. The issue is whether a bank has a duty to disclose information about its customer's account to persons — in this case to the Lenders — with whom the customer does business. We hold that the Bank does not have such a duty, and...

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