The Consumer Protection Code is a nasty piece of work .
It pretends in its verbiage to (protect) the consumer but in application it falls far short.
From what I can surmise , when push comes to shove on issues that may (harm) our Banks it is (beaten) into place by Laws of Contract ie consumer signed,so tough.
From memory Brendan on a previous post highlighted that equity and fairness can be used by our regulators,(indeed what he highlights shows this) but I do not see that being used as it is used in UK?
The number of people who were obviously scalded by Banks/Insurance on improper investment type advice ,yet who cannot access fairness notwithstanding the (lovely) verbiage in our Consumer Code? irritates!
I think our (Regulators) are very good with language , poor in application.