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
09/30/2018
If you are not HMDA reportable, do you have to collect GMI for a Home Equity Loan? Not a refinance of purchase money, strictly home equity to consolidate miscellaneous consumer debt and medical bills.
09/16/2018
Does the flood notice have to be signed at renewal if the loan is not in a flood zone? Everything I have read about giving the notice seems to read "if located in an area that's in a flood zone" so it appears conditional.
09/02/2018
We have a business customer who admits giving his debit card and PIN to someone to make a withdrawal. Now our customer sees that this person withdrew more than the agreed upon amount. The customer wants us to give him back all the money. I've been trying to find out the liability on this. Can you help?
08/26/2018
I have a lender telling me that the borrower was considered to have shopped for services because the provider listed on the Settlement Service Provider List (SSPL) has 3 office locations and the borrower went through a different office location than that disclosed on the SSPL. The lender believes going to a different office address is considered "shopping." I don't agree, but would like clarification on this.
08/19/2018
We have a customer whose DDA is overdrawn. Today he made a request to do a wire transfer to be paid with cash. The transaction was completed. My question is after the fact and for future reference, could we have refused the wire transfer request until his DDA was no longer overdrawn?
08/12/2018
I am the Training Specialist for my bank and we have just passed the $1 Billion mark. I want to be sure that I have provided all the required training to the employees. I know we must provide, privacy, BSA/AML, security, Id Red Flags, Reg. CC and SAFE act training to our NMLS employees.
Is there any other topics that I should add to this list?
08/12/2018
Is the following scenario HMDA reportable? The borrower owns his primary residence free and clear. He is going to use this home for a business line of credit. The purpose of the business line of credit will be for him to purchase homes, repair or remodel and resell. (He is flipping them.) We will be advancing funds and depositing to his checking account and we will have no interest in the homes that he flips.
08/12/2018
We have a DBA car dealership that finances the purchase of it's vehicles. Are they considered a Money Services Business?
08/05/2018
I am trying to find more information regarding the rate information on savings disclosures. The rates are listed as tiered rates, but if a customer receives a special rate other than what is listed, does the disclosure need changed every time to list the special rate? Or when the rates do change, does the disclosure need changed every time, even if the rates will change soon after again? Right now, the disclosure states, "The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account daily."
08/05/2018
I have a commercial loan request. The borrowers are using their primary residence to pay for a special assessment on a rental unit. They're not refinancing a current loan, they're not purchasing or completing any home improvements so the "Other" purpose is what I would select but it is for consumer loans only. Would this loan be HMDA reportable?
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