The current financial climate around card processing has been largely true since at least the late 90’s. Since Clinton.
YMC/AML has been this way since shortly after 9/11 (aka 2001).
The level of outrage from the voters is…. Tepid.
Will it change at some point? Sure. Not seeing it happen anytime soon though.
If you mean "those in power who can and do make decisions that a majority of voters wouldn't actually support", then sure, I think that's the case, but that doesn't make it right, and that doesn't make it inevitable, either.