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
Please help me understand the difference between service providers referred to in 40.13 of Reg P and providers used to effect, administer or enforce a transaction in 40.14 of Reg P. For example where would Deluxe, Clarke American, etc. fall? It seems logical that checks ordered would fall into 40.14, but I have been told that confidentiality clauses are needed with check vendors. Examples of each category would be appreciated. Thanks. By the way, am I the only one having trouble with this?
Is a home equity loan considered a demand loan? Can the bank demand immediate payment at any time if you are current with your payments?
When using additional income on a consumer loan application (auto loan, for example), if source is from spouse, does spouse need to be on the application? I've worked for several financial institutions and all have looked at this issue and applied it differently on a case by case basis. Need some "legal" confirmation.
What is the status of the American Homeownership and Economic Opportunity Act of 2000? The last I saw on it was it was going to Clinton to be signed in December. It was to have some impact on the Homeowners Protection Act of 1998 and I would like to know if it was ever signed and if and when we will need to make any changes to what we are currently doing.
When preparing the Flood Hazard Determination Form. If the Flood Insurance is not available because the community is not participating (C2), is it a violation if the Determination section (D) is not filled in because the community is not participating or does that determination still need to be made and filled in regardless?
Where are funds availability notices required to be displayed. Lobby only? Drivethru? Night Depository? ATM?
We allow customers 30 days to examine their statement for errors from when the statement is first made availableto them and 60 days to report any unauthorized signatures, alterations or forgeries. Is the 60 day period mandatory or can we reduce the error notification period to 30 days?