Here is a good article on the cost of BSA compliance. The focus is using technology to meet the compliance requirements, but we all know that isn't a complete answer at all. Still, the message is sound.

http://www.forbes.com/opinions/2008/04/17/banks-layoffs-security-oped-cx_sja_0418banks.html

This may be worth sending to senior management or in getting a good hard copy. Here are a few snippets:

The federal government views banks as America's first line of defense to ensure that terrorists and criminals don't use the financial system to facilitate their activities. As a result, extensive anti-money laundering and anti-terrorist regulations have placed financial institutions in the trenches of the war against terror--and against any criminal activity involving money flows.

...banks need to develop compliance strategies that are smarter, more cost effective, use fewer people and are right the first time. In this way, banks can weather layoffs and budget cuts without compromising their compliance goals and the societal needs of national security.