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CCB Signs 400th Client in $7.25 Billion Visa/MasterCard Class Action Settlement



CCB Signs 400th Client in $7.25 Billion Visa/MasterCard Class Action
Settlement

Expands Operations to Manage $100 Billion in Payment Card Interchange Fee
Claims

CONSHOHOCKEN, Pa., April 3, 2013 (GLOBE NEWSWIRE) -- Claims Compensation
Bureau, LLC (CCB), today announced it has signed its 400^th client in the
$7.25 billion Visa/MasterCard class action settlement. With these clients
totaling more than $100 billion in credit card sales, CCB is expanding its
operations to support its continuing class action claims growth on behalf of
institutional investors, retailers and other clients.

Brad Heffler, CCB's president and founder, said, "CCB's experience in creating
the third-party class action filing industry 17 years ago, combined with the
financial strength, large scale data-processing capabilities and institutional
controls of our publicly traded parent company, Portfolio Recovery Associates,
Inc. (PRA), gives CCB a significant competitive advantage over the many
inexperienced companies recently formed as a result of large cases such as the
Visa/MasterCard settlement."

To help manage CCB's growing class action claims business, Robert Rey has been
appointed senior vice president, operations, reporting to Heffler. For the
past year, Rey has supported Heffler's business development efforts from CCB's
parent, PRA, where he served since 2008 as vice president, strategy. In
addition, Mark Schneider, formerly assistant vice president, strategy
reporting to Rey, will join CCB as vice president, operations, continuing to
report to Rey.  

"Bob and his team have been an integral part of our approach to securing new
clients as a strategic advisor to CCB," said Heffler. "With his assistance,
CCB has signed more than 400 clients in the upcoming $7.25 billion class
action settlement between merchants and the nation's largest credit card
issuers. In his new role with CCB, Bob will continue to apply PRA's
disciplined data-driven approach to the class action claim filing industry,"
Heffler said.    

Rey commented, "CCB's pioneering claim filing process and its sophisticated
platform ensure that its clients recoup the maximum amount to which they are
entitled. It's imperative that companies perform due diligence in selecting a
class action claims provider that can successfully monitor and handle the
complexities of the numerous major settlements that occur each year. Equally
important is to evaluate whether the filing firm has the long-term financial
security to ensure that it can continue to manage claims during the often
lengthy timeline leading up to the distribution of funds," continued Rey. 

Rey joined PRA in 2001 as vice president of PRA's contingency collection
operation. Prior to joining PRA, he worked in consulting and management
positions at various credit issuer banks managing collections, asset sales and
outsourcing. He attended Temple University in Philadelphia where he received a
Bachelor of Business Administration degree with honors and a Juris Doctor
degree.

Schneider was previously assistant vice president of strategy in PRA's core
debt purchasing business, also supporting several of PRA's subsidiary
businesses. Prior to joining PRA in 2009, he was a senior manager at Capital
One Financial Corporation, where he held various management and analytical
roles within their recovery department for eight years. He earned a Bachelor
of Business Administration degree from James Madison University and an MBA
degree from The Fuqua School of Business at Duke University.

About CCB

Founded in 1996, CCB pioneered the industry of filing class action claims on
behalf of institutional investors and corporate clients. Its securities
clients are some of the largest financial companies in the world including
hedge funds, investment banks, asset management firms and mutual funds. Its
non-securities clients include Fortune 500 companies in a wide variety of
industries.  CCB has filed claims totaling more than $25 billion for its
client base of more than 1,100 companies.  CCB is a subsidiary of Portfolio
Recovery Associates, Inc. (Nasdaq:PRAA).  Additional information about CCB is
available at www.claimscompensation.com.

CONTACT: Media Contact:
        
         Ray Atkinson
         Assistant Vice President, Corporate Communications
         757-351-3264
         rayatkinson@portfoliorecovery.com

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