This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

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

Stocks in this article: PRAA

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. 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,678.70 +6.10 0.03%
S&P 500 2,057.09 +5.27 0.26%
NASDAQ 4,771.7630 +13.8840 0.29%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs