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
12/02/2018
Marketing has created a list of services that the bank offers (checking, savings, loans, investments, etc.) in a creative design. The window cling will only be visible inside the bank. The bank name, member FDIC, Equal Housing Lender and Not, Not, May are not included on the window cling.
Can we omit these disclosures since it is in the lobby and the list is generic?
11/25/2018
Can commercial DDAs be interest- bearing?
11/25/2018
For TRID purposes, is a construction loan considered to be a purchase money loan?
11/18/2018
I am new to lending compliance and have an advertising question. My bank wants to advertise the following:
"Enjoy our special 20-year financing offer. Ask us for details."
I am of the opinion that "20 year financing" is a trigger term and therefore requires APR, down payment and repayment terms. My predecessor disagrees
because an interest rate is not quoted.
Along the same lines, if an advertisement says, "15 and 30 year fixed rate loans available" would we have to disclose rate and payment options for both
terms assuming this is a trigger term?
11/18/2018
Per Reg CC, if a new customer deposits two cashier's checks for $10,000 each (total deposit $20,000), are we required to make $5,000 per check available next day, or are we only required to make the first $5,000 of the total deposit available?
11/18/2018
What specific regulations do examiners look for training on, and how often should it be done?
11/11/2018
If we have three DDA accounts securing the same loan, does the "single action rule" limit us to only using the funds from one account in the event of default? It is the funds in all 3 accounts that add up to enough to cover our loan proceeds.
11/11/2018
I have a Reg E question concerning overdraft protection. If an account is not permitted to have our overdraft protection product (bounce protection) and a POS or ATM overdraws the account, are we allowed to charge the account an NSF fee? (This pertains to employee accounts, business accounts and our student checking accounts.)
11/11/2018
We are reviewing our ability to deny debit card claims, whether it be a dispute or fraud case. If we have sufficient information to initiate and investigation, but don't have sufficient information to determine it an error occurred or didn't occur, are we able to decline the claim based on the fact that in the course of our investigation, the information we have does not support the customer's claim?
For example, we have a customer claiming fraud, who states they have the card in possession but did not make the purchase. If during the course of our investigation we can see that the item in question was in fact delivered to the customer's home address, can we deny it for stating that it appears the customers benefited from that transaction since the item purchased was delivered to the address on file?
11/11/2018
We have had an internet banking platform for several years and are preparing to roll out the mobile banking interface to internet banking customers. Through both the online platform and the mobile platform, customers are able to access account statements. We currently also provide paper statements to all customers, including those who are enrolled in internet banking. Customers are not able to choose between paper statements and electronic statements in the internet banking platforms (i.e. internet banking customers with access to electronic statements also receive a paper statement).
Are we required to be compliant with E-SIGN due to the internet banking customers being able to access account statements electronically, even though they are receiving paper statements?
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