Failures in Financial Regulation

This chapter explores significant legal cases and regulatory failures within the mortgage industry, emphasizing the consequences of unethical practices and the challenges in obtaining justice for defrauded investors. The dialogue presents a critique of the leniency in Canada's legal system compared to the United States, underscored by alarming specific cases where legal advice and consumer protection were compromised. Through a thorough examination of systemic issues and the struggles of new regulatory bodies, the chapter highlights the urgent need for reform to protect vulnerable investors.