There's no point naming and shaming the banks. They have no shame | Patrick Collinson | Money | guardian.co.uk: "The thrust of consumer regulation in financial services over the past two years has been something called 'Treating Customers Fairly'. It's a worthy attempt to raise standards, but the reality is that it will probably turn into another box-ticking exercise that makes little substantive difference to the experience of customers (with the costs of this exercise passed on to, you guessed it, the customer).
What two decades of financial regulation – from Fimbra to Lautro to SIB and the much derided FSA – has taught us is that regulating the sales process, providing warnings and information to customers, and imposing fines where appropriate have not worked. The alternative, which the financial services industry has fought tooth and nail against for years, is direct product and price regulation."
Yes, regulation has failed, it will continue to do so if the regime isn't tweaked a bit.