Blue Ridge, which erred with fintechs, exits consent order

Blue Ridge Bank, previously troubled by fintech partnerships, has exited a consent order from the OCC. CEO Billy Beale announced the bank's shift back to traditional community banking, ending its BaaS program. The bank faced regulatory issues due to its fintech ventures, leading to a focus on local banking and hiring skilled executives. The exit from the consent order allows Blue Ridge to originate new deposits and loans, emphasizing commercial and industrial loans within Virginia.