Blue Ridge, which erred with fintechs, exits consent order

Key insight: A community bank in Virginia has been freed from a consent order related to its previous fintech partnerships. Expert quote: "We just threw BaaS out the door," said CEO Billy Beale. Forward look: The bank is now focused on a traditional community bank strategy, Beale said. Blue Ridge Bankshares in Richmond, Virginia, which became a poster child for what can go wrong when banks partner with fintechs, has been released from a 2024 consent order related to its failed foray into banking as a s ...