By "someone else's" you surely mean "the bank's money". I don't think individuals are going to benefit from this, just a few large players around the world.
A large percentage of it is entirely their money. And in fact, not even actual money somebody at the bank owns, just numbers on their ledger (that they still make interest from borrowers off).
In fact, there's most of the money the banks loan is not "somebody else's" at all, it's "loan money".
Banks are not like a giant piggy bank with your savings in it. They create money when they create loans. They're not protecting "your money" with things like this, they are protecting their profits.
If they're also afforded the same responsibility, sure. Because if people had the same rights as banks, I'd be free to gallavant down to Vegas, blow all my money on slots, and expect the government to vacate my debts and pay for my steakhouse dinner
And how would people get services typically offered by a bank? Sorry but most of people on this planet need banks because they don't have enough cash to buy real estate. Are you suggesting that people should not own their homes?