PRA Group (UK) Receives Full Authorization from the Financial Conduct Authority
(Thomson Reuters ONE) -
NORFOLK, Va., Sept. 22, 2016 (GLOBE NEWSWIRE) -- PRA Group, Inc. (Nasdaq:PRAA),
a global leader in acquiring and collecting nonperforming loans, today announced
its UK business has received full authorization from the Financial Conduct
Authority (FCA), which covers all credit and lending operations and includes
permissions for debt collection and debt administration in the United Kingdom.
The FCA is the conduct regulator for 56,000 financial services firms in the UK
and the prudential regulator for over 24,000 of those firms to ensure they meet
the rigorous standards set forth by the agency.
"For over 20 years we have built an ethical company focused on treating
customers with respect and fairness. Additionally, we provide our banks a
partner who has a high degree of operating expertise, compliance and
reliability," said Steve Fredrickson, chairman and chief executive officer, PRA
Group. "Receiving full authorization from the FCA is a testament to this ongoing
commitment."
Added Tiku Patel, CEO of PRA Group Europe: "The FCA approval process requires
very high standards of conduct and customer treatment and we are delighted to
have received full authorization. Delivering fair customer outcomes is at the
heart of our business and we are focused on continuing to improve our customer
engagement in the future."
About PRA Group
As a global leader in acquiring and collecting nonperforming loans, PRA Group,
Inc. returns capital to banks and other creditors to help expand financial
services for consumers in the Americas and Europe. With almost 4,000 employees
worldwide, PRA Group companies collaborate with customers to help them resolve
their debt and provide a broad range of additional revenue and recovery services
to business and government clients. For more information, please
visit www.pragroup.com.
Investor Relations Contact:
Darby Schoenfeld
Director of Investor Relations
(757) 431-7913
DCSchoenfeld(at)PRAgroup.com
News Media Contact:
Nancy Porter
Vice President, Corporate Communications
(757) 431-7950
NAPorter(at)PRAGroup.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: PRA Group via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 22.09.2016 - 23:00 Uhr
Sprache: Deutsch
News-ID 496584
Anzahl Zeichen: 2734
contact information:
Town:
Norfolk
Kategorie:
Business News
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