Business

A nearly two-year chapter of heightened regulatory oversight has come to a close for Blue Ridge Bank, which announced it has been released from the consent order imposed by the Office of the Comptroller of the Currency (OCC). The consent order stemmed from claims of ongoing deficiencies in Blue Ridge’s Bank Secrecy Act/Anti-Money Laundering compliance (BSA/AML). Specifically, the OCC called out alleged systemic internal control breakdowns, weak independent testing, and insufficient BSA staffing. Ongoing Non-Compliance In 2022, regulators raised red flags about these issues and Blue Ridge entered an agreement to correct the problems. By 2024, the OCC said the bank failed to follow through, and the bank was accused of engaging in unsafe or unsound practices, including those r...

Governor Glenn Youngkin has lost one of his favorite bragging rights—Virginia ranking as the Top State for Business. CNBC has produced the rankings since 2007. Virginia topped every state in the nation in 2024 and has been in the top 3 for the last three years. Charge All Your Devices at Once: 5-in-1 Fast Charging Station w/ Wireless Charging Not only has Youngkin repeatedly pointed to Virginia's #1 ranking over the past year, but he's had the news tacked to the top of his website since last summer. And it's still there. "Over time, no state has performed better than Virginia," which has claimed the #1 spot six times, CNBC acknowledged. "But in 2025, with economic anxiety rising, Virginia's economic situation is just shaky enough to take it down a few pegs." This year, Virgi...