Planning for the next year means looking back. A 2020 FDIC, Federal Reserve and Conference of State Bank Supervisors survey of community banks reveals how they’re planning for compliance and risk.
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Breaking down the average compliance budget
| Personnel | Data Processing | Legal | Accounting & auditing | Consulting & advisory | |
| 2015 | 11.4 | 17.7 | 20.7 | 41.5 | 42.6 |
| 2016 | 12.3 | 17.8 | 23 | 41.7 | 44.5 |
| 2017 | 10.4 | 17.1 | 20.9 | 39.4 | 45.9 |
| 2018 | 11.3 | 18 | 22.8 | 42.4 | 40.5 |
| 2019 | 10.3 | 17.1 | 22.6 | 42.3 | 38.2 |
How important is risk to your community bank?
| Very important | Important | Moderately important | Slightly important | Not important | |
| BSA risk | 20.2 | 35.2 | 30.6 | 12.1 | 1.9 |
| Consumer compliance risk | 18.5 | 37.9 | 29 | 12.6 | 1.9 |
| Legal risk | 8.9 | 24.7 | 34.9 | 27.2 | 4.3 |
| Other compliance risk | 19.7 | 41.2 | 27.8 | 9.7 | 1.6 |