Yet we have quite a lot of banks to pick from - around 60 if you include building societies (more if you include private, niche and specialist banks). We also have a fair few new and digital challenger banks like Monzo, Starling, Atom, Revolut and arguably Metro Bank. If anything our banking system seems far more innovative than the US system.
I don't know about Canada, but clearly regulations don't mean that you can't have competition and innovation.
See also regulation about what the incumbent last-mile network provider (Openreach) can charge ISP's to provide services on their lines which has led to a larger number of ISP's available in any one place (unless you're in Hull, because of historical reasons).
as for ISPs, it's hard to do worse than comcast, but at least they don't block a wide range of content by default.
https://en.wikipedia.org/wiki/Web_blocking_in_the_United_Kin...
And the piracy site blocks are due to high court orders - not a lot an ISP can do in those cases.
Basically every bank has some kind of "premium customer" program that you qualify for by having enough investments or loans from that bank and magically all your banking fees go away (obviously they just make their money from the services they provide for your investments/loans)
The only fees I pay are a small percentage for management of mutual funds.
The benefit of US banking despite lax regulation was that there's a ton of different banks and credit unions to choose from. Some are great and some are shit. Literally hundreds to pick from. Canada there was like 5 big banks, a large credit union, and then depending on your area there was maybe perhaps a small community credit union.