The courts decide if there was actually wrong doing. Private account details would never be released without following the law. In the future, disputes over small matters between two verified parties might be able to take place through mediated arbitration outside of the court system.
It has pros and cons, it's been done in other sectors and it is used by some big players as well. Biggest con I see is that it will become mandatory over time just like the "insurance scam", it's a self enforcing system. Second con who is gone pay for verification, in the end it's always gone be consumer so ...
http://www.fcsonline.com.au/Solution0055.html?id=11http://www.gb.co.uk/gbgroup/what-we-do/verify-your-customer