>>Which is just kind of amazing if you think about it. Imagine if the energy industry didn't have to deal with EPA regulations or manufacturing companies didn't

>>Which is just kind of amazing if you think about it. Imagine if the energy industry didn't have to deal with EPA regulations or manufacturing companies didn't have to deal with OSHA regulations. The political winds are starting to shift and the tech industry is increasingly going to be held responsible for the negative externalities they create. wow, what a terrible analogy. First off you have seemed to conflate 3rd party liability and 1st party liability. If a Company pollutes say a river that is the Company doing it directly. Thus they are liable for it If someone posts some threating comment, or some copyrighted work to a website the hosting company did not do anything wrong, they provided a service that was then used illegally, holding them liable for that would be holding a 3rd party liable. Something that should be rejected by society A better anology would be "Image if Ford was responsible for every drunk driver that used a Ford Car irresponsibly and killed someone with it" Do you blame Home Depot for renting a truck to a Terrorist? Dont answer that I bet you do. >All banks have to comply with Know Your Customer regulations, which is easier for bigger banks than smaller ones. And yet society has deemed that combating money laundering and tax evasion is worth the cost. Some of use in society do not agree it is worth the cost >>It'll be fine. Yes because the banking industry is a shining example of ethics, customer service. Next to lawyers I can not think of a more hated group in society than Bankers. There is a reason for this and the fact that competition is limited due to the law you cited and many others is a reason for this.