Jim Bedsole is the Senior Vice President and Chief Compliance & Risk Officer for BankSouth headquartered on Lake Oconee in Greensboro, GA. Mr. Bedsole has thirty years of experience in managing bank risk, regulatory compliance, auditing,
security, and corporate governance with both regional and community banks. He has a Bachelor of Science degree in Business Administration from The Citadel, The Military College of South Carolina in Charleston, SC. He is also a graduate
of the ABA National Graduate School of Compliance Management. He is a Certified Regulatory Compliance Manager, Certified Bank Auditor, Certified Financial Services Auditor, and Certified AML and Fraud Professional.
Jim is a frequent speaker on the topics of risk management, compliance, consumer protection regulations, auditing, and Internet banking regulation. He is currently the chairman of the Georgia Bankers Association Compliance Committee and the vice chairman of the GBA Compliance School Board. He formerly served as co-chair of the ABA Enterprise Risk Management Working Group for Community Banks and on the ABA Risk Management Forum Advisory Committee. He is a former chairman of the SC Bankers Association Compliance and Regulatory Committee and former chairman of the SC Bankers Association Disaster Recovery Committee. He has served on the faculty of the ABA National Compliance School and the NC School of Banking and is currently on the faculty of the Georgia Bankers Association Bank Compliance School.
He has authored articles appearing in both regional and national publications, including ABA Bank Compliance Magazine, Palmetto Banker and numerous Internet web sites. He is also an active private pilot with an instrument rating.
Areas of Expertise:
Risk Management Training
We have a commercial loan where the borrower took out a loan to reimburse himself for the purchase of an investment property. The property was already
owned by the borrower at closing and none of the proceeds were being used to pay off any other loan or to improve this home. Would this be HMDA
reportable, and as what purpose?
Is a business allowed to have a NOW Account?
Is purchasing a shed HMDA reportable? Would it be classified as Home Improvement? Would it matter if it was on a permanent foundation? OR attached to a dwelling?
Our bank made a loan to an active duty military on 4-16-15. He was active duty on 8-2-13 and ended active duty on 7-2-16. Can our bank repossess per the reg?
A question has come up in regard to public comments left on the bank's Facebook page. Would Facebook comments that relate to the bank's performance in helping meet community credit needs rise to the level of placing these in the bank's Public File?
We currently have a consumer in the permanent financing phase of a construction/permanent loan. There was no guarantee we would provide the permanent financing at our bank.
When construction was approved the borrower was considered self-employed. He owned two businesses and within the last year has sold a large portion of his businesses and now receives a salary as a manager, rather than an owner.
Do we need to complete a full cash flow on this borrower, or could we use the current income received from his salary for ability to repay rules?
How can I tell if a loan is cross collateralized, what language shall I look for and in what document?
If a loan has a privately held mortgage, is that HMDA reportable?
Does the bank have to include dates in a deposit account periodic statement?
If an individual applies for a loan and they don't qualify, is the lender required to formally disposition (deny) the loan request? Or can they solicit other individuals to be added to the application to see if they would
help qualify and get loan approval?