Easily remedied by having regulators: (1) impose a fiduciary duty on those selling financial services; (2) enforce this duty through robust regulatory compliance examinations; and (3) have a binding, independent consumer dispute resolution service. 

What we are witnessing is a failure of regulator oversight. OSFI and the FCAC are utterly worthless and the banks should never have been allowed to leave the OBSI for ADR Chambers. 

Sadly, there is no political will to change things at the moment.