Hiring bodies to perform the administrative work required by law. Lots of compliance - title 9, etc at the federal level, plus more at the state level.

We have several teams of developers pushing out state-level regulatory updates to our software (and these updates are frequent and often done on short notice), plus more teams doing annual federal regulatory updates.

And again, I'm not claiming this is the largest contributor, only that it's one of many reasons (easy access to loans included as well).