I would say the law that's needed is advertising-based. There's a huge disconnect between what "safety deposit box" means to people and what those actually, legally, are in 2019 according to the fine print. That's the main issue.

Imagine if it were legal for companies to pass something off as a "bank account" when they weren't actually a bank. And it explains it all in the fine print, but as we all know nobody reads the fine print, especially when the offered product is so seemingly familiar. We'd have fly-by-night operations losing people's money left and right, and then legally washing their hands of it.