Laura B. White to Resign from PRA Group, Inc. as Executive Vice President, Chief Risk and Compliance Officer, Effective July 31, 2023
July 14, 2023 at 04:01 pm EDT
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PRA Group, Inc. announced that on July 11, 2023, Laura B. White, Executive Vice President, Chief Risk and Compliance Officer, of the company notified the Company of her decision to resign from the Company effective on July 31, 2023. Ms. Whiteâs decision to resign from the Company was not due to a disagreement with the Company or management related to its operations nor the Company's settlement in 2023 with the U.S. Consumer Financial Protection Bureau.
PRA Group, Inc. is a financial and business services company with operations based primarily in the Americas and Europe and Australia. The Companyâs primary business is the purchase, collection and management of portfolios of nonperforming loans. The accounts it purchases are primarily the unpaid obligations of individuals owed to credit originators. It purchases portfolios of nonperforming loans at a discount in two categories: Core and Insolvency. Core operation specializes in purchasing and collecting nonperforming loans, which it purchases since the credit originators have chosen not to pursue, or have been unsuccessful in, collecting the full balance owed. Insolvency operation consists primarily of purchasing and collecting nonperforming loans where the customer is involved in a bankruptcy proceeding, or the equivalent thereof, in certain European countries. It also provides fee-based services on class action claims recoveries in the United States.