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
Are mortgage lenders required to issue a credit decision (conditional approval or Pre-approval or notice of incompleteness or denial) on purchases and a commitment letter on refi's within 30 days of application? We have a purchase of new construction file that sat for 4 months while construction finished with no credit decision.
SCRA requires a written request. Does this mean it requires a "signed" written request from the borrower?
If escrowed, are taxes and insurance included in the mortgage payment amount when calculating the debt-to-income DTI ratio on a new consumer loan?
When advertising rates on CD's and savings accounts do you have to state the interest rate and the annual percentage yield or is the annual percentage yield sufficient to be in compliant with Reg DD?
Our bank has several home improvement applications that have been approved prior to 10-3-16 but they have not funded yet because we do not disburse the funds until all the improvements are completed. In cases like these, must we run an "MLA check" against the DOD database?
Would this five year unsecured installment loan be HMDA reportable? The funds needed for purchasing upgrades on a new construction property which will eventually be their primary residence when construction is complete.
I have been instructed to lead a project around compliance ramifications if negative interest rates were to occur in the US. With regard to deposit accounts, would all TISA and other initial disclosures need to be updated to reflect this change. Since the change in terms would negatively affect our customers. This would be quite an undertaking as we have 10 member banks. Would all of our advertisements have to be re-disclosed? Any feedback is greatly appreciated.
Do you have a list of transactions that are Electronic Fund Transfers under Reg E?
If a mother gave her ATM card and PIN number to her teenage daughter and now there is an unauthorized ATM withdraw, does Reg E still apply? They think a friend of the daughter actually did the transaction. He heard the mom tell the daughter the PIN number and took the card out of the car console. Can the mother be held accountable at all?
Can we require a borrower to open a deposit account with our institution as a condition for approving their loan request?