OneMain Financial Appoints Phyllis Caldwell to Board of Directors

Rhea-AI Summary

OneMain Financial has appointed Phyllis Caldwell to its Board of Directors. Caldwell, founder of Wroxton Civic Ventures, brings extensive experience in lending, government, and community development. She previously led foreclosure prevention initiatives at the U.S. Department of Treasury and held executive roles at Bank of America. Her focus on financial inclusion aligns with OneMain's mission to enhance the financial lives of Americans with nonprime credit. This strategic appointment aims to strengthen the company's board with leadership experience in financial inclusion and community engagement.

Positive

• Phyllis Caldwell's appointment adds significant expertise in lending and community development to the board.
• Caldwell's focus on financial inclusion aligns with OneMain's mission, potentially enhancing its market position.

Negative

• None.

OneMain Financial, the country’s largest installment lender to hardworking Americans with nonprime credit, announced today that Phyllis Caldwell was appointed to its Board of Directors. Caldwell is the founder and managing member of Wroxton Civic Ventures, which offers advisory services to companies focused on housing, economic development and financial inclusion.

“We are excited to welcome Phyllis to OneMain,” said Doug Shulman, Chairman and CEO of OneMain. “She brings deep experience in lending, government and community development to the Board. Her passion for financial inclusion fits perfectly with OneMain’s mission of improving the financial lives of hardworking Americans.”

Caldwell served as Chief of the Homeownership Preservation Office and implemented foreclosure prevention initiatives established through the Troubled Asset Relief Program (TARP) at the U.S. Department of Treasury during the Obama administration. Before Treasury, she served in multiple executive roles at Bank of America, including President of Community Development Banking. She also served as president and CEO of the Washington Area Women’s Foundation, an organization dedicated to investing in women and girls of color in the Washington, D.C., region.

Caldwell holds a Bachelor of Arts from the University of Maryland and an MBA from the Robert H. Smith School of Business, where she is currently an Executive-in-Residence.

About OneMain Financial

OneMain Financial (NYSE: OMF) has been offering responsible and transparent loans for over 100 years. With almost 1,500 locations throughout 44 states, the company is committed to helping people with their personal loan needs. OneMain and its team members are dedicated to the communities where they live and work. For additional information, please visit OneMainFinancial.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210310005897/en/

FAQ

Who is Phyllis Caldwell and what experience does she bring to OneMain Financial?

Phyllis Caldwell is the founder of Wroxton Civic Ventures and has extensive experience in lending and community development, previously serving in the U.S. Treasury and Bank of America.

What is the significance of Caldwell's appointment to the Board of Directors at OneMain Financial?

Caldwell's appointment is significant as it strengthens OneMain's leadership with a focus on financial inclusion, which is central to the company's mission.

How might Caldwell's experience impact OneMain Financial's strategy?

Caldwell's experience in economic development and financial inclusion may help OneMain enhance its outreach and improve services for nonprime credit borrowers.