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A comment on Airlines Are Just Banks Now. Parent comment

Re:Airlines Are Just Banks Now by julienb_sea on Thursday September 21, 2023 @04:50PM (#37604123)
Even if no one is skipping step C, the enforcement mechanism requires auditing. If there exists an alternative to step C, is it compliant with the regulatory requirement? The regulation itself introduces legal risk which needs to be mitigated. So yes, it increases expenses.
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Re:Airlines Are Just Banks Now by PaulDavisThe1st on Thursday September 21, 2023 @06:01PM (#37605012)
Those expenses are on the part of the regulator, which is funded differently. As a society, we may be paying more to say "you must do step C", but as a customer or provider of Foo, there's no change.
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Re:Airlines Are Just Banks Now by riatin on Thursday September 21, 2023 @06:39PM (#37605427)
No? Entities don't get to write off the cost of being audited, there's a very real expense associated with both documenting the regulated process in a compliant manner and working through the audit process with the relevant regulatory body.
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Re:Airlines Are Just Banks Now by PaulDavisThe1st on Thursday September 21, 2023 @07:20PM (#37605789)
Entirely fair point.
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