Modern wastewater treatment is certainly one of western civilization's major achievements. It cuts down on communicable diseases, enhances human and animal lifetimes and makes the place smell better. However, the technology is perhaps 100 years old at it's core and was never imagined to get rid of the multitude of chemicals that we are currently dumping in the water.
As an AC in a post below this one states "We know that a whole host of chemicals do this, estrogen from birth control pills being just one chemical out of literally hundreds." Some are likely to have noticeable biological effects, others perhaps not. And we certainly have the technology to rid the water of these chemicals, but likely not the political and financial will.
The EPA is constantly changing their requirements for wastewater, typically tightening up on some chemical or another. They are usually hounded left and right when they do that for reasons of economics and politics. Hopefully they can continue doing so, but I'm doubtful of their ability to push for major changes in the current climate (pun intended).