Brief: PRA Group Subsidiary, Portfolio Recovery Associates, Llc (Pra), Has Reached An Agreement With U.S. Consumer Financial Protection Bureau (Cfpb)

PRA

23/03/2023 16:51

March 23 (Reuters) - PRA Group Inc  PRAA.O :
    * PRA GROUP INC - SUBSIDIARY, PORTFOLIO RECOVERY ASSOCIATES,
LLC
(PRA), HAS REACHED AN AGREEMENT WITH U.S. CONSUMER FINANCIAL
PROTECTION BUREAU (CFPB)
    * PRA GROUP INC - AS PART OF SETTLEMENT, PRA HAS AGREED TO
PAY A
PENALTY OF $12 MILLION AND APPROXIMATELY $15 MILLION TO IMPACTED
CONSUMERS
    * PRA GROUP INC - AGREEMENT IS NOT EXPECTED TO HAVE A
MATERIAL
ADVERSE IMPACT ON COMPANY'S FINANCIAL CONDITION OR RESULTS OF
OPERATIONS
    * PRA GROUP INC - MAJORITY OF FINANCIAL IMPACT OF SETTLEMENT
WAS
REFLECTED IN CO'S DECEMBER 31, 2022, FINANCIAL STATEMENTS

Source text for Eikon:  ID:nPn1hx62ba 
Further company coverage:  PRAA.O 

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