Bio:
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:
Compliance Consulting
Compliance Review
Compliance Seminars
Compliance Training
Risk Management Training
Questions Answered
07/31/2016
Is it required under the new TRID rules or Reg Z that the loan estimate 10 day expiration date stay the same when the loan is re-disclosed or should the expiration date be renewed/extended with each loan estimate given?
07/31/2016
Assume we mailed the Closing Disclosure on 03/08/2016. Can one of the borrowers sign the loan docs on 03/09 and the other one sign on the expected closing date of 03/15/2016 as scheduled? is it respecting the 3 days timeframe?
07/24/2016
We have a "Purchase money Security Interest in all inventory, equipment, etc., per our UCC-1 filing.
There are 4 other "All inventory, chattel paper, equipment ..whether now owned or hereafter acquired; all accessions...etc..." filings ahead of us that are current and have been continued and have not lapsed or been terminated.
My question: If the company fails would we be in first place with the equipment purchased with our loan funds?
I think not, but want to make sure.
07/24/2016
Do you feel it is safe for our employees to share their private information on our Facebook Page?
07/03/2016
Should a bank's internal audit department be given access to review security cameras at any time it wishes to do so?
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03/13/2016
I have recently been appointed a Security Officer. What is the minimum retention period of branch security cameras?
03/13/2016
What makes a bank exempt from sending out annual privacy disclosures?
12/27/2015
Our bank uses Chex Systems to help determine if we are going to
open an account for a customer or not. In our procedures, it shows we will
open an account unless Chex Systems Account Action reflects Decline, whether
or not there are closures for the individual. My question is, if we see there are closures, but the Qualifile Score happened to be in our acceptable range where it approves the account, are we still able to deny the account due to the Chex Systems results, or is this unfair practice? If we can't deny accounts due to closures that have an acceptable Qualifile score, can we rewrite the process to say any individual with an unpaid closure can be declined to make it fair?
12/06/2015
I have a borrower who is using a CD as security for a loan to purchase a vacation home. What if any disclosures are needed?
11/08/2015
I have a question regarding joint intent, and documentation of such. If you have two unmarried borrowers - separate credit reports - is it required to have separate 1003s (applications)? If not, does joint intent apply according to the application or credit report (assuming they are run on different days). If they are required to have separate 1003s, does joint intent still apply and need to be documented?
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