James A. Nussle Appointed to PRA Board of Directors
NORFOLK, Va., June 5, 2013 (GLOBE NEWSWIRE) -- Portfolio Recovery Associates,
Inc. (PRA), a financial and business services company operating in the U.S.
and U.K., today announced that James A. Nussle has been appointed by the
company's board of directors to serve as an independent director.
Nussle, 52, is president of The Nussle Group, a public policy and strategic
consulting company. From 2007 to 2009, he served in the cabinet of President
George W. Bush as director of the White House Office of Management and Budget,
where he developed and implemented the President's budget, fiscal and
regulatory policy.He was an advisor to President Bush as a member of the
National Economic Council, National Security Council, Homeland Security
Council and National Domestic Policy Council.
Prior to his years in the Bush Administration, Nussle served in the U.S. House
of Representatives as a congressman from Iowa for 16 years.During that time,
he was elected to three two-year terms as chairman of the House Budget
Committee.He also has served on the House Ways and Means, Banking and
"As state and federal regulations protecting consumers of financial services
continue to evolve, our board expects governance of PRA's strict compliance
with regulations to grow in importance to our stockholders, clients and
customers. We welcome to our board Jim Nussle's vast experience in finance,
and economic and public policy," said Steve Fredrickson, chairman, president
and chief executive officer of PRA.
Nussle replaces John Fuller, who served on PRA's board until the end of his
term on May 30, 2013. "On behalf of our stockholders, PRA thanks John Fuller
for his strong counsel to the board since 2010," Fredrickson said.
Nussle will stand for election to a three-year term on PRA's board at next
year's annual meeting of stockholders. He also will continue to serve on the
board of Thrivent Mutual Funds, and as an advisory board member to Avista
Capital Partners and The Bill and Melinda Gates Foundation, U.S. programs.
Nussle also is a steering committee member of The Fix the Debt Coalition and
on the boards of The Committee for a Responsible Federal Budget and The
National Down Syndrome Society. He was a member of the board and then
president of Growth Energy, the largest renewable energy trade association.
Following completion of a Juris Doctorate degree from Drake Law School in Des
Moines, Iowa, Nussle was a prosecuting attorney in Iowa, where he also earned
a Bachelor of Arts degree in political science from Luther College in Decorah,
As a leader in the U.S. debt buying industry, Portfolio Recovery Associates,
Inc. (Nasdaq:PRAA) returns capital to banks and other creditors that helps
expand financial services for consumers. PRA collaborates with its customers
to create affordable, realistic debt repayment plans. The company also
provides a broad range of fee-based services to local governments and law
enforcement, U.S. businesses, institutional investors, global hedge funds, and
U.K. banks and creditors.
PRA has been annually ranked as one of Forbes' 100 Best Small Companies in
America since 2007, advancing to the Top 25 in 2012. The company also was
recognized last year as one of Fortune's 100 Fastest-Growing Companies in the
U.S.For more information, visit www.PortfolioRecovery.com.
CONTACT: Rick Goulart
Vice President, Corporate Communications
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