regulation (in the UK at least) means that in many cases, if someone steals money from my bank account, I get it back. Compare that with what's happened to many cryptocurrency exchanges where they have losses (e.g. quadriga) and the consumers who used them are largely out of the money.
If the bank overcharges me, I have some form of redress (e.g. the PPI scandal).
It's not perfect by any means, but for many consumers it's likely better than a world where, once the money's gone, it's gone.
On the other hand, at least in the US, we don't have much protection when banks themselves take money from our accounts. E.g. back in 2009, banks made $37 billion from overdraft fees [1], thanks to shady practices like reordering transactions to maximize overdrafts. There was a class action suit about it, but it was a token victory, with very little money going back to the victims.
This doesn't negate your point, but I would just argue that we pay a heavy price for our heavily regulated financial system, between bank fees, card processing fees, foreign transaction fees, trading fees, etc.
If the bank overcharges me, I have some form of redress (e.g. the PPI scandal).
It's not perfect by any means, but for many consumers it's likely better than a world where, once the money's gone, it's gone.