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Does the CMA not have the authority to fine such companies for violations? If it does not, then the situation will never improve. I suggest looking at the US' Consumer Finance Protection Bureau (CFPB)  - setup during the Obama administration - as an example of some good work they are performing. According to their websites, they were responsible for getting $20B returned to consumers of the life of the agency (probably around 10 years now).

About time government agencies took responsibility for protecting consumers. Rohit Chopra of the US's Consumer Financial Protection Bureau (CFPB) and Nikhil Rathi (FCA's CEO) appear to be a breed apart from agencies that are captive to corporations and their lobbyists - they are, hopefully, the vanguard of the kind of government consumers dream of.

And, we are to believe that the US is NOT tracking individual electronic transactions currently (through ACH, card networks, etc.)?

IMO, the US is in danger of falling significantly behind as China, India, the EU and other Asian countries interlink their own CBDC. Once they start denominating their (smaller) transactions using other digital currencies, it will snowball and there will be no turning back. By then, the US CBDC will be too late.