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Elevate Credit Announces New Board Member Appointment
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Elevate Credit, Inc. (NYSE: ELVT) announced the immediate appointment of Jay Bray to its Board of Directors. With over 25 years in financial services, Bray, currently CEO of Mr. Cooper Group, will provide valuable insights to Elevate's leadership. His experience includes growing Mr. Cooper into the largest non-bank mortgage servicer and leadership roles at Bank of America. Elevate has provided $9.5 billion in non-prime credit, saving customers $8.8 billion compared to payday loans, showcasing its commitment to responsible lending.
Positive
Appointment of Jay Bray enhances board expertise with over 25 years in financial services.
Bray's leadership at Mr. Cooper Group suggests potential strategic advantages.
Elevate's strong financial history of $9.5 billion in non-prime credit illustrates growth potential.
Negative
None.
FORT WORTH, Texas--(BUSINESS WIRE)--
Elevate Credit, Inc. (NYSE: ELVT) (“Elevate” or “Company”), a leading tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, today announced the appointment of Jay Bray to the Company’s Board of Directors, effective immediately. As Chairman and Chief Executive Officer of Mr. Cooper Group, Bray brings more than 25 years of financial services experience to Elevate’s Board. Bray will assume a newly created Board position and will serve on the Compensation Committee.
“Jay’s extensive knowledge of the financial services and technology market will be invaluable to Elevate as we continue to seek opportunities to better serve the millions of non-prime consumers who are underserved by traditional banking institutions,” said Elevate Chief Executive Officer Jason Harvison. “Our organization will greatly benefit from the leadership and insights Jay has accumulated in his years at the helm of Mr. Cooper and we very much look forward to having him join our Board.”
As the Chairman and Chief Executive Officer of Mr. Cooper Group, Mr. Bray has grown the company to become the largest non-bank mortgage servicer in the country, successfully led multiple acquisitions and divestitures and championed the company’s transformation from Nationstar to Mr. Cooper. Prior to his time at Mr. Cooper, he held a variety of leadership roles at Bank of America and predecessor entities, where he managed the asset backed securitization process for mortgage-related products, developed and implemented a secondary execution strategy and profitability plan and managed investment banking relationships, secondary marketing operations and investor relations. Additionally, Mr. Bray led the portfolio acquisition, pricing and modeling group at Bank of America. He holds a B.A.A. in Accounting from Auburn University and is a Certified Public Accountant in the State of Georgia.
“I am thrilled to join the Board of a mission driven organization that is committed to giving consumers the tools and resources they need to reach a better financial future,” Mr. Bray said. “I look forward to working with my fellow Board members and Elevate’s leadership team to provide consumers with responsible and transparent solutions that will provide them with the foundation to thrive.”
About Elevate
Elevate (NYSE: ELVT), together with its bank partners, has originated $9.5 billion in non-prime credit to more than 2.6 million non-prime consumers to date and has saved its customers more than $8.8 billion versus the cost of payday loans. Its responsible, tech-enabled online credit solutions provide immediate relief to customers today and help them build a brighter financial future. The company is committed to rewarding borrowers’ good financial behavior with features like interest rates that can go down over time, free financial training and free credit monitoring. Elevate’s suite of groundbreaking credit products includes RISE, Elastic, and Today Card. For more information, please visit http://www.corporate.elevate.com.
