Enron failed and we got SOX and the cost of compliance for publicly traded companies skyrocketed. In 2008, banks were was too big to fail, followed by Dodd Frank for “big banks” but regional and smaller banks were left out. Now the smaller banks are going have to be regulated like the big 4 are and there will be a cost of compliance passed on to the customer. That cost is not trivial unless your customer base is so large that spreading the pain is possible. The law of unintended consequences is always lurking.