We have investigated radiative B meson decays with the CLEO detector. An updated result on the branching fraction ℬ(b→sγ)=(3.15±0.35±0.32 ±0.26)×10-4 is reported. We report on a search for CP asymmetry in b→sγ decays, determining that -0.27<ACP<+0.010 at 90% CL. The measurement of the branching fraction for the exclusive mode B→K*(892)γ has been updated with a value of [Formula: see text] and [Formula: see text] and a first measurement of [Formula: see text] is reported with a value of [Formula: see text]. A search for CP asymmetry in B→K*(892)γ decays yields a measurement of ACP=+0.08±0.13±0.03. We find no significant evidence for the decays B→(ρ/ω)γ and we limit ℬ(B →(ρ/ω)γ)/ℬ(B→K*(892)γ)<0.32 at 90% CL. In addition we find no evidence for the non-penguin decays B0→ϕγ and B0→D*0γ.