A number of questions remained unanswered with respect to the regulation of large financial institutions after the global financial crisis (GFC) of 2007–08. Some pressing issues have resurfaced in the context of the recent interest rate swap scandals. These events provided the opportunity to reflect on the wider socio-political agenda that involves the regulation of banks' behaviour vis-à-vis societal stakeholders. In particular, the Interest Rate Swap (IRS) scandals have shown the ability that banks have to first, innovate and customise complex financial products, and second, limit their legal liability when selling them to investors. This has resulted in a highly unfair balance of powers between financial institutions on the one hand and regulators and financial consumers on the other.