We have allowed institutions to frame this kind of fraud in the way that they prefer, but nothing was stolen from this man. A million dollars was stolen from the bank.

It is the same with "identity theft." There is no such thing. If someone takes out a loan or credit card in my name, they have taken nothing from me. I am not even involved, and the law should recognize that.

By framing it as theft from consumers, it allows the institutions which are actually responsible to avoid consequences.