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Stock impact report

PROG Holdings Announces Sale of Vive Credit Card Receivables Portfolio to Atlanticus

PROG Holdings, Inc. (PRG) 
Company Research Source: Business Wire
Companies Align as Partners to Better Serve Retailers and Customers SALT LAKE CITY--(BUSINESS WIRE)--PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for Progressive Leasing, Four Technologies, and Build, today announced the sale of its Vive Financial credit card receivables portfolio to Atlanticus Holdings Corporation (NASDAQ: ATLC). The transaction is expected to improve PROG Holdings’ capital efficiency and profitability profile while maintaining access to second-look credit solutions for near and below-prime consumers.“Today’s announcement reflects our continuing commitment to optimize capital returns while providing wide-ranging, best-in-class flexible payment options to underserved consumers,” said Steve Michaels, PROG Holdings’ President and Chief Executive Officer. “Atlanticus is a natural partner for us in this transaction, as they share our commitment to grow our respective businesses, while providing customers and retail partners with exceptional service. Goin Show less Read more
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