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
11/11/2018
When two cashier's checks are deposited together and held as a Large Deposit, should $5,000 of the total be made available immediately or is $5,000 from each check ($10,000 of the total deposit) made available immediately?
11/04/2018
How many checks can be drawn against a non transactional account in a statement period?
11/04/2018
What is required for cashier checks and money orders purchased at a bank in relation to OFAC?
10/28/2018
When the bank pulls a credit bureau report for a loan application, is the bank allowed to give a copy of the report to the borrower?
10/28/2018
The FFIEC Exam Manual refers to Politically Exposed Persons, as a "senior foreign political figure". We have Examiners here, who also have stated that they are only foreign political figures (and their families, close friends, & associates, etc...). But, we had a State of Arkansas House of Representative come up as a "hit" on the Enhanced Politically Exposed Persons (PEP) list when we ran them through the OFAC section of Chexsystems. So, I am just looking for some clarification or guidance on this.
10/21/2018
I have heard varying answers on this ever hot topic, RESPA's Section 8. Can a Loan Originator take a Realtor out to lunch and expense it if the purpose of the lunch is to introduce themselves to the Realtor? In other words can this lunch be a marketing expense? Or is this a violation under 1024.14(e) as seeking referrals?
10/21/2018
A borrower verbally requests to cancel their PMI. All guidance states that these requests must be submitted in writing. If there is no record of written request, would this be a violation or a noted exception to internal policy and procedures?
10/14/2018
We are brand new to HMDA due to purchasing a branch in an MSA. We will start inputting in 2019. Our question is, if we have a home equity loan (we do not do LOC'S on home loans), it is to refinance existing mortgage and other funds are used for improvements to the property. Would that be a refi, home improvement or cash out refi?
10/07/2018
How can we verify a Closing Disclosure APR for an adjustable rate consumer purpose loan that is secured by residential real estate? The terms in question are a 30 year mortgage with a 10/1 ARM.
09/30/2018
Let's assume an applicant applies for a 15 year fixed rate loan that is offered by our secondary market investor, but the loan request does not meet investor's program requirements. We counteroffer with our own 15 year fixed rate product. The differences between the products are different fees, different underwriting standards, and servicing sold vs retained. Both are 15 year fixed rate loans, but different products. If the counteroffer is accepted, could a revised LE be issued for fee tolerance issues?
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