Compliance Costs

During a recent compliance exam I was again reminded of the tremendous cost to our society for consumer compliance issues that are well intended, but fail miserably to really address the problem.  Take for example:  Privacy Notices.  How many of you have ever read one of those notices that you receive from every credit card company and bank you do business with?  And every one of them is required to send you the same notice.  Billions and billions of dollars of waste.  And all these costs get passed on to you, the consumer.  As long as no one complains to our legislators, it will only get worse.