Bad Business Climate for Banks in WV

Forbes Magazine previously ranked West Virginia as the worst state to do business. The magazine said West Virginia ranked 50th in its regulatory environment, 38th in overall economic climate and dead last in growth prospects. The chairman and chief executive officer of the biggest bank based in the state, United Bankshares Inc., says that doing business in the state is far less profitable than in neighboring Virginia because of excessive litigation and a burdensome regulatory environment.

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