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We are committed to supporting you through this unprecedented period. Read our latest updates and advice from around the world to help you maintain good credit and gain access to the financial services you need.
April 16, 2021 - It is always better to pay off your debt in full if possible. While settling an account won't damage your credit as much as not paying at all, a status of "settled" on your credit report is still considered negative... read more here.
April 13, 2021 - In today’s digital-first environment, fraud threats are growing in sophistication and scope. It’s critical for credit unions to not only understand the specific threats presented by life online, but to also be prepared with a solid fraud detection and prevention plan. We’ve outlined a few fraud trends that credit unions and others should be aware of and prepared to address... read more here.
7 April 2021 - Experian is offering customers access to not-for-profit community lenders, such as credit unions and community development finance institutions (CDFIs), directly through its comparison services. Experian has found that around 25% of customers searching for loans through its comparison services are not eligible for lender offers from mainstream lenders currently. People seeking credit who are not able to find an offer through mainstream providers may end up getting high cost loans, for example from payday loan companies. This is the first time they have been able to find out if they are eligible to access not-for-profit lenders through a major money comparison provider... read more here.
March 22, 2021 - Experian has reduced the number of people excluded from mainstream financial services by more than 620,000 - but new analysis shows more than five million are still missing out. Nearly 5.2 million people in the UK are virtually invisible to the financial system because there is insufficient information about their financial track record for organisations to make informed decisions. These ‘credit invisibles’ find it difficult to access mainstream financial services or have to pay a premium to do so... read more here.
March 21, 2021 - We recognize that COVID-19 has challenged Americans across the country, and nearly a year later, people are still struggling to recover. Among the more pressing issues for people has been navigating the financial landscape and hardships brought on by illness and high unemployment rates. At Experian, we empathize with consumers and are committed to helping them manage their financial lives. As part of this commitment, Experian, along with the other U.S. credit reporting agencies, is continuing to offer free weekly credit reports to all Americans for an additional year via AnnualCreditReport.com... read more here.
March 10, 2021 - We have partnered with FinScore, the pioneer in delivering telco data credit scoring to the unbanked and underbanked populations in the Philippines. Through this partnership and subsequent access to Experian’s global know-how, FinScore will intensify its focus on delivering alternative credit scoring to help financial institutions reduce high default rates and prevent fraudulent activity, whilst simultaneously bridging the financial inclusion gap for unbanked individuals in the country. Banks and financial institutions that utilise the joint technology will be able to score the unbanked population and gain access to more relevant financial products and services that they need... read more here.
March 10, 2021 - As consumer demand for the digital channel continues to increase at an exceptional rate it has created an opportunity for businesses to serve the growing ranks of connected consumers. The most important thing is for businesses to ensure they are putting the consumer at the heart of the relationship. 38% of consumers expect to increase their online activity in the next 12 months. Furthering our belief that the preference for digital transactions persists, 60% of consumers are using a universal mobile wallet to make digital payments. We also found that the two top activities among consumers online are personal banking (58%) and ordering groceries and takeout food (56%)... read more here.
February 1, 2021 - The UK has become a nation of digital shopkeepers during the Covid-19 pandemic, according to Experian’s analysis of the changing shape of the business population. There has been a surge in the number of retail, and food and beverage companies registered since April 2020, as the UK’s resilient entrepreneurs have progressively turned to digital marketplaces to find new opportunities. Online retailers, cake bakers, craft gin distillers and cheese subscription clubs among types of businesses set up during pandemic... read more here.
January 14, 2021 - Experian has today published a white paper offering ideas about how the UK can develop a world-leading data industry. It lays the foundations needed to create a culture of data innovation which will drive business growth as we emerge from the Covid-19 crisis. New report offers perspectives about how the UK can become a world leader in data. Covid-19 pandemic has highlighted the huge value of data in tackling the big issues... read more here.
December 21, 2020 - Facing the risk of losing their homes due to COVID-19 related hardship, 21 Atlanta-area families will now be able to spend the holidays in their homes thanks to a pilot program by the NAACP Empowerment Programs and Experian. The Home Preservation Grant is providing mortgage relief up to $10,000 per recipient. The grant is the result of Experian’s partnership with NAACP, and is part of Experian’s United for Financial Health initiative, which aims to empower and protect vulnerable consumers to improve their financial health through education and action... read more here and here.
December 3, 2020 - the launch of a new global project that aims to empower vulnerable consumers so they can improve their financial health through education and action. United for Financial Health will see Experian partner with non-profit organisations from across the globe, delivering tools and resources to uplift and educate consumers, as well as protect consumers from fraud and identity theft. The goal is to reach millions of people around the world and deliver a wide programme of support, especially those further marginalized by COVID-19, offering tangible ways to help improve financial health and kick-start people on the road to recovery.... read more here.
December 3, 2020 - Almost a year worth of a global pandemic has galvanized a past of relative stability and predictability, bringing chaos and disruption and signaling a different, certainly unexpected, future. As this future unfolds, it will be the actions that business leaders and their teams take now, amidst the crisis, that will determine the fate of their organization. Navigating the current complexity and change requires the ability to effectively address the urgent needs of the present, make immediate choices, and allocate resources... read more here.
November 10, 2020 — In the wake of unprecedented unemployment fraud since the start of COVID-19, Experian was selected as the exclusive partner for identity and fraud verification for the Unemployment Insurance (UI) Integrity Center’s centralized Identity Verification (IDV) capability. This is available to state agencies at no cost through UI Integrity Center, operated by the National Association of State Workforce Agencies (NASWA) in partnership with and funded by the U.S. Department of Labor... read more here.
October 20, 2020 — In a continued effort to educate consumers about factors influencing their financial health, Experian released key findings from its 11th annual State of Credit report, which examined how consumers are managing their credit histories against the backdrop of the COVID-19 pandemic. This year’s report provided an extended view into how consumers are managing and repaying their debts, showing most Americans are practicing responsible credit management by reducing utilization rates, credit card balances and late payments... read more here.
October 19, 2020 — Consumers in Asia Pacific (APAC) have reported difficulties in paying their bills and almost a quarter (23 per cent) are reducing their discretionary spending since the start of the pandemic, according to latest data from Experian. One in five are doing so due to job loss or an anticipated shift in their financial circumstances, and 29 per cent are spending less due to lifestyle changes imposed by social distancing measures such as dining out, entertainment or travel. The survey also found that there has been a 50 per cent increase in the number of APAC consumers who face challenges in paying personal loans and mortgages since COVID-19 started... read more here.
October 19, 2020 – Operation HOPE today announced a partnership with Experian, the world’s leading consumer credit reporting agency and leading data and technology company, with the critical goal of reaching millions of people with a message of HOPE and financial inclusion, especially for those individuals struggling during COVID-19.
The 2020 HOPE Global Forums - titled “America on Reset, Healing a Nation. Opportunity for All” - is the backdrop to announce the foundation of a partnership which aims to further Experian’s United for Financial Health program to improve the financial health of consumers worldwide through education and action... read more here.
October 15, 2020 - The pandemic has created a seismic shift in the volume of online activity and experiences in the past few months. Experian’s Global Insights Report, one of the first large-scale surveys assessing the impact of COVID-19 on businesses and consumers explores the major shifts in consumer behaviour and business strategy pre- and post-COVID-19, with economic perception at the epicentre. According to the report, 43% of Indian consumers have indicated that their household income has declined since COVID-19, thereby, being concerned about their well-being. Not just consumers, even businesses have been concerned about the well-being of their customers. This is evident in the fact that 53% of Indian businesses have highlighted health & safety of customers as the biggest challenge... read more here.
As part of its mission to use data to keep the credit economy open to more consumers, Experian today released its latest State of Alternative Credit Data report. The study highlights consumer and lender perceptions about leveraging alternative credit data against the backdrop of COVID-19, revealing 80 percent of consumers feel including items such as utility or mobile phone payment history would have a positive impact on their credit score and nearly 90 percent of lenders believe alternative credit data allows them to extend credit to more consumers... read more here.
September 9, 2020 – The impact of Covid-19 pandemic has caused both businesses and consumers to shift their priorities, but they aren’t necessarily prioritizing the same things. According to Experian’s Global Insights Report, consumers are engaging with businesses online more than ever before. The study found there has been a 20 percent increase overall in consumer online transaction activities, including a 41 percent increase in online grocery shopping, a 40 percent increase in applying for loans online and a 22 percent increase for both ordering food online for delivery or for takeout... read more here.
September 2, 2020 — As the financial services industry navigates the market volatility surrounding COVID-19, Experian® today has enhanced its offerings within its Economic Response and Recovery Suite to help lenders assess and swiftly respond to changing behaviors so they can support consumers and businesses. The new updates include the addition of Experian’s new Spotlight 2020 Attributes and the Ascend Market Insights Dashboards... read more here
August 12, 2020 — One in three (31%) used the enforced lockdown to pay down their debt, according to new analysis from Experian. The proportion of Experian CreditExpert customers that had high balances1 across their credit accounts stood at 12.6% around the start of lockdown (23rd March). This dropped to 8.6% at the beginning of June, just before measures to contain the outbreak began to ease. Alongside this, average credit balances dropped by 17% during the UK COVID-19 lockdown... read more here.
July 30, 2020 — BNP Paribas Personal Finance will use Experian’s Open Banking technology and Aryza’s Debtsense digital platform to provide round-the-clock online account reviews to customers who have been affected by the Covid-19 pandemic. Debtsense from Aryza uses Experian’s Open Banking service to allow people to share their account and transaction data, giving a clear and detailed picture of affordability, financial circumstances and commitments in rapid time. The insights will enable BNP Paribas Personal Finance to accurately assess people whose finances have been affected by the pandemic and who may now be vulnerable. They can then be offered a payment break or an affordable payment plan based on their specific circumstances... read more here.
July 30, 2020 - Do consumers pay certain types of credit accounts before others during financial distress? For instance, do they prioritise paying mortgage bills over credit card bills or personal loans? During the Great Recession, the traditional notion of payment priority among multiple credit accounts was upended, throwing strategies employed by financial institutions into disarray. Similarly, current circumstances in the context of COVID-19 might cause sudden shifts in prioritisation of payments which might have dramatic impact on your credit portfolio.... read more here.
July 29, 2020 – Brits have a wider choice of credit cards and loans, because more lenders are returning to the market as the COVID-19 lockdown restrictions ease. Around half of lenders had previously withdrawn products. Experian’s Credit Barometer shows that at the start of the lockdown, just one in four (25%) people searching for a loan found a product they were likely to be accepted for.... read more here.
July 29, 2020 - Graduating from college can be an emotional rollercoaster—you may be excited to finish school, but nervous about entering the working world. For students graduating during the COVID-19 pandemic, this anxiety is more acute than ever. Students across the country have had job offers rescinded, internships abruptly shortened, graduation ceremonies (and parties) cancelled—and are now entering a pretty dismal job market. New graduates will have to work harder to get their first job and, as the summer wanes, the reality of student loan payments will edge closer. If you just graduated and are stressed about what to do next—take a deep breath, and read through the following tips for some advice.... read more here.
June 25, 2020 – Fraudsters targeted a myriad of financial products in April, including current and savings accounts, as the UK entered lockdown due to the Covid-19 pandemic, new analysis reveals. Data from Experian and the National Hunter Fraud Prevention Service shows a rise in fraud rates, with criminals looking to take advantage of the disruption to both businesses and their customers brought about by the outbreak.... read more here.
June 23, 2020 – The UK’s three largest credit reference agencies (CRAs) have collaborated on a new guide to help people understand how their credit-related information is used by lenders. Equifax, Experian and TransUnion have launched the guide – Understanding your credit information and how lenders use it – to inform people about the factors lenders consider when deciding whether to accept an application. The guide also explains what happens to people’s information after an account has been opened and a person’s rights if the application is refused.... read more here.
June 17, 2020 – Experian, one of India’s leading data, analytics and decisioning companies and credit bureaus, has developed multiple resources and services to help businesses and consumers across the country during the COVID-19 pandemic. Sathya Kalyanasundaram, Country Head and Managing Director, Experian India, says: “At Experian, we are committed to helping the Banking, Financial Services and Insurance (BFSI) industry, businesses and consumers across India. The pandemic has led to a large increase in consumers going online, which has led to a potential rise in fraud. Experian is providing complimentary resources for consumers to monitor and protect their financial health. We have also introduced solutions that will empower businesses to be resilient whilst ensuring continuity during these challenging times.”... read more here.
June 10, 2020 — Experian® today launched the Ascend Portfolio Loss Forecaster™, a new tool that uses Experian’s comprehensive data along with up-to-date macroeconomic forecasts to analyze risk accurately across consumer loan portfolios. Built on the Experian Ascend Technology Platform™, the new product delivers immediate access to a combined set of industry-leading data and models powered by machine learning to analyze the impact of today’s rapidly changing macroeconomic conditions. After the longest period of economic growth in post-war U.S. history, the unprecedented and sudden changes in economic conditions due to COVID-19 require lenders to gain instant insights to assess impact and losses to their portfolios. The new Ascend Portfolio Loss Forecaster combines the power of Experian data with industry-leading loss forecasting models from Oliver Wyman and leverages macroeconomic forecasts from Oxford Economics. Lenders can calculate multiple scenarios, including a set of COVID-19-specific macro-forecasts, to validate and improve the accuracy of their portfolio predictions...read more here.
June 3, 2020 — A third have been reading up on financial advice or guidance to help make the right financial choices during the pandemic. Yet, there are some crucial gaps in people’s financial knowledge. Six in ten (61%) Brits have become more aware of their finances since the start of the Coronavirus pandemic, rising to 71% among those on furlough, according to new research released today from Experian. Over a third (35%) of Brits say their financial knowledge has improved during lockdown, with 30% actively researching financial advice or guidance to help them manage their finances through this uncertain time. 18-24-year olds are the most likely age group to have developed their financial literacy (50%). Those who have conducted research are twice as likely to have contacted at least one lender or provider to discuss a payment holiday (34% compared to the national average of 15%). Nearly half of consumers also reported having peace of mind regarding their current financial situation (46%)... read more here.
May 26, 2020 – Experian has developed multiple resources and services to help businesses and consumers across Asia Pacific during the COVID-19 pandemic. Ben Elliott, CEO, Experian Asia Pacific, says: “Experian is committed to helping businesses and consumers across the region. We’re responding to our customers’ immediate needs, such as banks and financial services providers needing to handle a surge in customer demand. The increase in digital activity during the pandemic has also led to a potential rise in fraud and businesses need to respond swiftly. Experian is providing complimentary resources for consumers to monitor and protect their financial health. Our initiatives enable businesses and consumers to build resilience and ensure continuity during these challenging times.”... read more here.
May 25, 2020 – If you've been financially impacted by COVID-19—as millions have—you may be worried about how you're going to pay all your bills. In response to the crisis, many companies have enacted new assistance policies and are working with customers to find manageable solutions. Your personal loan lender may also offer assistance, possibly in the form of payment deferrals or reduced payments. Learn about how these programs work and how to qualify... read more here
May 23, 2020 – We know many consumers may already be struggling to make their mortgage payments as the COVID-19 pandemic continues to impact the economy. Currently, you will need to contact your lender and ask them whether they are offering payment accommodations, including forbearance or deferment options for those who have been financially impacted. If you have a federally backed mortgage loan, you have a right to request a forbearance for up to 180 days... read more here.
May 19, 2020 — Experian’s Affordability Passport is helping a host of organisations better understand vulnerable people’s financial situations, so they can best support them through the Coronavirus pandemic. Local authorities and charities including Mental Health & Money Advice and Citizens Advice are using the Open Banking powered digital tool from Experian, which allows people to share their account and transaction data, providing a clear and detailed picture of an individual’s financial circumstances and commitments in rapid time. This includes the option for a consumer to share their credit report – with their consent - to provide a complete picture of their financial health. Experian has made the tool available free of charge for three months as part of its response to the pandemic. In total, 21 organisations are using the service to help identify clients who may have experienced a change in their financial circumstances and offer them the support they need... read more here.
May 18, 2020 — Experian, the world leader in information services, today announced that it is working with its existing telco partners across Southeast Asia and the wider region to better support subscribers digitally during this challenging period. Experian is actively collaborating with telcos to help them broaden existing criteria to enable them to rapidly roll out extended offers to subscribers who have been impacted by the lockdown measures. As part of the containment strategies of several countries, forced lockdowns and movement controls have disrupted livelihoods across the region, leaving individuals and communities struggling as a result of the downstream impact on the economy.
In particular, staying connected during movement control restrictions have proven to be critical, allowing consumers to gain access to essential services like food supplies and in managing the psychological effects of isolation, among other benefits. In a recent study from Sri Lanka, in-person mobile top-ups experienced spikes during off-curfew hours, indicating that many subscribers risk infection from COVID-19 to continue to use their mobiles. Experian initiated collaborations with its telco partners to change their current eligibility criteria as deployed through their existing Dynamic Airtime Advance (DAA) service. The subscriber benefits are manifold and includes increased eligibility, data top-ups, promotion to non-active users and increase airtime advance limits... read more here.
May 18, 2020 – Singapore’s SMEs have been hit hard by the COVID-19 pandemic, facing challenges such as cash flow disruption, flagging sales, and delayed customer payments. However, most organisations have been able to benefit from the supporting measures in the Unity, Resilience, and Solidarity budgets to ensure the business stayed afloat. These findings were based on a survey conducted by Experian in April 2020 involving responses from more than 200 Singapore SMEs.
With respondents from key sectors such as Manufacturing, Construction, Services, Retail, Wholesale, Hospitality/F&B, and Transport/Storage, the survey provides a measure of how Singapore’s SMEs have fared against economic stressors arising from the COVID-19 pandemic between February to April 2020. Responses also shed light on the challenges SMEs have been facing, the risks faced by each sector, as well as the impact of government intervention... read more here.
May 11, 2020 — In an effort to aid in the country’s re-opening efforts, Experian is making available a free interactive heat map of geographic populations at-risk of being most susceptible to developing severe cases of COVID-19. The Experian COVID-19 Outlook and Response Evaluator (CORE) tool is intended to guide healthcare organizations and government agencies as they plan for the “new normal” and coronavirus recovery in the months ahead. The map leverages de-identified data such as pre-existing conditions and social determinants of health to form a comprehensive picture that predicts possible pandemic impact on communities. As organizations navigate many unknowns moving forward, the Experian CORE heat map offers a real-time tool to inform those efforts...read more here.
May 8, 2020 – Many Singapore SMEs possess vulnerabilities in the areas of credit standing, cash flow, liquidity, and liabilities that could impact their immediate ability to effectively weather economic challenges arising from the COVID-19 pandemic. This was the key finding from Experian’s study of financials and credit ratings of more than 50,000 Singapore SMEs across 12 sectors and analysed through the Experian Ascend: Analytics on Demand platform. Additionally, the study was complemented by Experian’s debt payment analysis generated through its Non-Bank Credit Bureau... read more here.
May 1, 2020 - Today kicks off Asian Pacific American Heritage Month. The Experian Asian American Employee Resource Group (ERG) is proud to recognize this special month by sharing how Experian is supporting a national campaign to address the adversity facing some of our most at-risk communities right now. Experian has joined ten non-profits and more than 80 companies from across industries and sectors nationally to support the #AscendTogether action agenda. It includes promoting inclusion, raising awareness of vulnerable groups, denouncing bias, supporting frontline healthcare workers, COVID-19 victims and families, and donating funds and resources to support vulnerable populations and impacted businesses...read more here.
April 27, 2020 — Experian announced that it is offering a free webinar about macroeconomic scenario forecasting, credit trends and implications on Tuesday, April 28, 2020. This webinar taps into Experian’s data insights relating to the credit economy, and specifically, the impact brought by COVID-19. “As the consumers’ bureau, Experian has an unwavering commitment to work with consumers, lenders and the financial community during COVID-19 and throughout the economic recovery phase,” said Alex Lintner, group president for Experian’s consumer information services. “We’re dedicated to making resources and data-driven insights available through education tied to the credit industry and macroeconomic trends. We’ll also continue to educate consumers on how to work with their lenders on arrangements including forbearance, deferment and loan modifications during this difficult time so that their credit can be protected.”...read more here
April 22, 2020 - Experian, and other credit reference agencies (CRAs), have today confirmed new guidance to protect business credit scores during the Covid-19 pandemic. Lenders can now offer an ‘emergency payment freeze’ to businesses that may be worried about meeting regular payments because of the pandemic. Once agreed, lenders should not report a build-up of arrears to the four designated CRAs - Experian, Creditsafe, Dun and Bradstreet, and Equifax - ensuring business credit scores are protected from this forbearance during the agreed timeframe. As part of its response plan to support businesses, Experian has confirmed organisations can gain free access to it’s My Business Profile service for three months. My Business Profile gives customers full visibility of their business credit profile, enabling them to manage it during this difficult period... read more here.
April 21, 2020 – It's more than reasonable for your credit score to have dropped a few notches on your priority list amid more pressing concerns around the COVID-19 (coronavirus) pandemic. When the world emerges from this crisis (and it will!), and normal plans and dreams resume, you may be seeking credit in one form or another—financing a home, buying a car, starting (or continuing) a college education and so on. Taking a few steps today can help safeguard your credit for those better times to come. Knowing whether late payments will be reported during the crisis can help you prepare for the future... read more here.
April 20, 2020 –On Monday, April 20, the Covid Radar – a collective of organisations such as the United Nations, Serasa Experian, SAP, Amazon, Acts, University of Sao Paulo (USP), among others – will be launched with the purpose of working together to minimize the impacts generated by the COVID-19 and contribute to the recovery of Brazil’s economy. This collective is divided into three fronts: Covid Radar Panel, Covid Radar Connection and Health Covid Radar. The Covid Radar Panel brings a complete database with anonymized data and information about the pandemic that has been available by Covid Radar partners for modelling, research, indexes, trends and visualizations about several aspects of the pandemic. Its users can be companies, academic organizations, media and the society. The academy and governments, for example, can access the complete database to simulate different combinations, which enable them having a detailed view on the environment and movement by city and even by neighborhood and allow the adoption of quick and assertive measures in the most diverse areas affected... read more here.
April 20, 2020 – In a joint action, the three national credit reporting agencies in the United States – Equifax (NYSE: EFX), Experian (LON:EXPN) and TransUnion (NYSE:TRU) – announce they are offering free weekly credit reports to all Americans for the next year to help them protect their financial health during the sudden and unprecedented hardship caused by COVID-19. The free reports will be available via AnnualCreditReport.com starting on April 20, 2020. The companies’ CEOs provided a joint statement on the decision to increase their offerings for the next year. “These are unprecedented times facing the world. People are feeling scared and uncertain about the future. To help play our part and reduce some of that anxiety, we are uniting as an industry to help people know the facts about their financial data. We are making credit reports more accessible more often so people can better manage their finances and take necessary steps to protect their credit standing,” said CEOs Mark W. Begor, CEO Equifax; Brian Cassin, CEO Experian; and Chris Cartwright, CEO TransUnion... read more here.
UK, 20 April 2020: Experian’s free online teaching resource is available to help the nation’s parents and carers provide fun, financial education to young children, while home schooling due to COVID-19. Values, Money and Me gives children aged 5-11 the opportunity to develop their financial knowledge and abilities, as well as their attitudes and values towards money, and can be easily incorporated into any at-home timetable. Previous research from Experian revealed a glaring lack of confidence and knowledge amongst British parents when it came to teaching children about money matters. Despite the fact that 62% of parents recognised that they have the single biggest influence in shaping their children’s attitudes towards money from a young age, many lack confidence (52%) and knowledge (58%) to do this.
Parents can use the free online resource to help children explore the sometimes complex, emotional and moral challenges that we all deal with in relation to money, through a wide range of engaging real-life situations. The resource also includes a specific family learning programme. This has been designed to not only help parents provide valuable support to their children outside the classroom but also their own money skills. This is particularly important at a time when many families are reviewing their finances and looking for ways to help build financial resilience... read more here.
Kuala Lumpur, 16 April 2020 – As the government and healthcare front liners battle the Covid-19 pandemic, the Movement Control Order since March 18 has also presented unprecedented economic and financial challenges to companies, small and medium enterprises (SMEs) and consumers. In today’s ‘new normal’, Malaysian companies and SMEs need to seamlessly migrate their business processes, decision-making and credit management to a digital platform to enable them to operate remotely, collaboratively and cost effectively. Meanwhile, consumers must monitor their credit health and protect their personal credit identities. Experian, the world’s leading global information services company, accelerated its business presence in Malaysia in 2019 by acquiring a controlling stake in RAMCI (RAM Credit Information Sdn Bhd) which has since been rebranded to Experian last December. In support of Malaysian consumers and businesses through the Covid-19 pandemic, Experian is offering its credit health monitoring and credit management solutions on a complimentary basis to help mitigate present challenges.... read more here.
April 16, 2020 - As COVID-19 (coronavirus) continues to impact the world, Americans are becoming increasingly aware of the risk of scams, fraud and identity theft that could occur during this time. With the rapid changes being made and new programs rolling out in response to COVID-19—including a tax due-date extension and new direct stimulus payments from the IRS—fraudsters have identified an opening and gotten to work. Americans have begun receiving calls, letters and emails from scammers posing as the IRS, and the Federal Bureau of Investigation has warned of numerous scams related to COVID-19. To better understand how we can continue helping consumers during this unprecedented time, Experian surveyed over 1,400 consumers throughout the U.S. to find out if they are concerned about fraud and theft and what they are doing to combat the threat. We found that most Americans are aware of scams related to COVID-19, and many are being more vigilant in protecting their private data... read more here.
Costa Mesa, Calif., April 15, 2020 — From free credit reports to ‘payer alerts’ for healthcare organizations, Experian North America has launched a wide-range of initiatives to help consumers, businesses and the community during the COVID-19 pandemic. In an effort to help consumers across the country, Experian has developed multiple resources and services to help during this challenging time... read more here.
Costa Mesa, Calif., April 10, 2020 — In an effort to help essential organizations, such as government agencies, healthcare providers and non-governmental organizations, provide resources to those most in need during the COVID-19 pandemic, Experian has created At-Risk Audiences, which leverage its data assets to identify groups of individuals that are most likely to be impacted. These new privacy-compliant segments, offered free of charge, are designed to help these organizations find and communicate with at-risk populations, enabling them to deliver essential services as quickly as possible... read more here.
Nashville, Tenn., April 9, 2020 — Experian® Health today made available a free comprehensive list of COVID-19 and telehealth payer policy alerts for United States hospitals, medical groups, pharmacies and specialty healthcare service organizations. Experian Health is a leading provider of revenue cycle management products that address claims management, payer contract management and patient collections. Payer policy alerts are provided by commercial, Medicare and Medicaid payers and summarize changes to medical coverage policies from those organizations. Staying up to date with rapidly changing payer reimbursement, coverage and medical coding policies will help providers avoid payment delays and costly re-work. At the time of this writing, Experian Health has distributed 1,140 Experian Health payer alerts related to COVID-19 and telemedicine policy changes. Hospitals and healthcare organizations can register here to access the list... read more here.
April 3, 2020 - As millions of Americans filed for unemployment benefits in March, Congress passed a massive stimulus package that, among other things, included funding that expands unemployment benefits for those out of work. The $2.2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act adds to existing unemployment benefits, giving jobless Americans an extra $600 a week through July 31, 2020. The new law also expands the list of workers eligible to receive benefits to include Americans who usually don't qualify—such as freelancers, gig workers and caregivers—if their employment was affected by the coronavirus. If the coronavirus outbreak contributed to you losing your job, you may be eligible to collect unemployment benefits to help you get through this tough economic time. For more information on how the new economic stimulus law might be able to help you... read more here.
April 2, 2020, UK - Experian has joined businesses from across the UK in an initiative to help the country and its most vulnerable citizens to pull through the coronavirus crisis. Former Cabinet minister Rt Hon Justine Greening has launched the C-19 Business Pledge. The national scheme encourages businesses to join the coronavirus effort by pledging to help their employees, customers and communities across the UK get through the crisis. It is targeting not just the immediate challenges of coronavirus, but also the challenges of recovery. The initiative has already received the backing of employers representing over 250,000 staff and students. Brian Cassin, CEO of Experian Plc, said: “This is a critical time for communities and businesses alike. At Experian, we’re meeting the responsibility we have to help our employees navigate this challenging period. We’re also working closely with our customers, so they are in the best possible position to understand and help the financially vulnerable people they serve.”... read more here.
April 2, 2020, Costa Mesa, Calif., - Experian will offer all American-owned small businesses free access to their Experian business credit report from now until May 1, 2020, to help small business owners in need during the impact of the COVID-19 pandemic. By accessing a free business credit report now, small business owners can understand where their credit score stands and look for the best lending options for their business before they obtain funding. To further help small businesses gain access to capital they need, Experian also launched its free COVID-19 U.S. Business Risk Index to assist lenders and government organizations in understanding how to make lending options available to the business segments that need it the most... read more here.
April 2, 2020 - Small business owners worried about the economic impact of COVID-19 on their companies can rest a bit easier after the recent passage of the Coronavirus Aid, Relief and Economic Security (CARES) Act. The CARES Act includes programs to help keep employees on your payroll, provide debt relief on Small Business Administration (SBA) loans and give your business the quick cash infusion it may need right now... read more here.
April 2, 2020 - On Friday, March 27, President Donald Trump signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act into law. The $2.2 trillion emergency stimulus bill provides sweeping relief for American consumers, businesses and industries. The CARES Act also includes much-needed assistance for student loan borrowers. If you have student loans and are experiencing financial hardship right now... here's what the CARES Act can do for you.
March 31, 2020 - In response to the economic impacts of the coronavirus, the US Congress recently passed a massive stimulus package that, among other things, includes funding for a direct one-time payment to many adults in the US. The payment—which for many Americans will total $1,200 or more—will be disbursed to most U.S. residents over the age of 18 and will serve as a form of financial relief during a difficult economic time. To help you determine whether you'll get a stimulus payment or how much you'll receive, we've answered some common questions that you may have. If you think you'll receive a stimulus payment, check out our tips for smart financial choices you can make with your funds.... read more here.
March 31, 2020, UK - Where people have agreed payment holidays with their lenders as a result of the Covid-19 pandemic, consumer credit scores are to be protected. The guarantee comes from the three major credit reference agencies (CRAs), Experian, Equifax and TransUnion who have put in place a special “emergency payment freeze”. This ensures that an individual’s current credit score is maintained or frozen for the duration of an agreed payment holiday. Jonathan Westley, chief data officer at Experian, said: “These are challenging times. While everyone is rightly focused on staying safe and healthy, we know that many people are also concerned about the impact on their income. “Many lenders are offering payment holidays or other arrangements to help people who have been affected by the outbreak. Experian, TransUnion and Equifax will then make sure that the agreement is reflected in your credit reports so that your score is not changed by any payment holiday you agree.”... read more here.
March 27, 2020, Costa Mesa, Calif., - These unprecedented times call for unprecedented measures. Experian supports the signing of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). We are encouraged by this historic effort to protect consumers and businesses alike. The relief bill is a great step toward economic recovery, directly supporting Americans through expanded unemployment coverage and by providing grants and loans to small businesses. At Experian, we have an unwavering commitment to help consumers and clients manage through this unprecedented period. We are actively working with financial institutions, lawmakers and regulators on tools and initiatives to protect consumers from potential adverse consequences to credit reports and credit scores as a result of financial hardship caused by the COVID-19 outbreak…. read more here.
March 26, 2020 - At Experian we have an unwavering commitment to help consumers and clients manage through this unprecedented period. We are actively working with consumers, lenders, lawmakers, and regulators to help mitigate the potential impact on credit scores during times of financial hardship. In response to the urgent and rapid changes associated with COVID-19, we are accelerating and enhancing our financial education programming with the goal of helping consumers maintain good credit and gain access to the financial services they need… read more here.
March 25, 2020 - Whether due to job loss, shortened working hours, or the need to take off time from work to care for ill family members, the current COVID-19 outbreak will undoubtedly cause financial hardship for millions of Americans. Understandably, the current situation is causing some consumers to fear losing something they’ve worked incredibly hard for – their home. For many, a home is the largest purchase they’ll ever make. We spend many years of our lives working to purchase a home and then many years after working to fill it with memories… read more here.
March 24, 2020 - At Experian, our top priorities are the health and safety of our employees, customers and their families. As the COVID-19 (coronavirus) situation continues to evolve, we are doing all we can to help you protect your credit during this unprecedented time. While your health and welfare are top priorities, you may also be concerned about how current economic conditions might affect your financial situation. We encourage you to be proactive in monitoring your credit, staying on top of your personal finances, and using resources that may be available to you. With that in mind, here are some steps you can take now to help keep your credit on solid footing… read more here.
March 24, 2020 - As the world continues to cope with the impacts of the COVID-19 crisis, government officials throughout the U.S. have taken important steps to curb the spread of the virus. At the same time, many businesses, financial institutions and government entities are stepping up to provide some relief to those who are worried about their financial security. To help you navigate the relief options currently available in the U.S., we've compiled the following list of financial and non-financial institutions' websites where you can find more information on relief measures… read more here.
Costa Mesa, Calif., March 23, 2020 – In response to the urgent and rapid changes associated with COVID-19, Experian is accelerating and enhancing its financial education programming to help consumers protect their financial health in these uncertain times. With expected delays in bill payments, unprecedented layoffs, hiring freezes and related hardships, Experian seeks to aid consumers in understanding how the credit reporting system and personal finance overall will move forward in this landscape. Experian invites everyone to join its special eight-week series of #CreditChat conversations surrounding COVID-19 on Wednesdays at 3 p.m. ET on Twitter. The first chat will take place on Wednesday, March 25: How to Manage our Finances & Credit During This Coronavirus Pandemic… read more here.
March 23, 2020 - Experian will be offering its Affordability Passport to organisations, including debt charities and lenders, for free as part of its response to the coronavirus outbreak. The Open Banking tool allows people to share their credit report and transaction data via a secure platform, providing a clear picture of an individual’s financial circumstances and commitments in rapid time. It is hoped that organisations will be able to use the tool to identify any customers who could be left vulnerable due to changes in their circumstances and offer them the support they need, such as payment breaks. The service will be available for free for three months… read more here.
Nottingham, UK, March 20, 2020 - We understand that the current situation with Coronavirus has left many people worried about how they’ll cope financially. We want to offer some guidance and reassurance for you and anyone concerned about ongoing changes…read more here.
Costa Mesa, Calif., March 19, 2020 - If the uncertainty of the current COVID-19 (coronavirus) situation has you worried about possible financial hardship, know that you have several options that can help you get through this time. Learn about solutions you can use to help meet your financial obligations when money is—or could become—tight. From government relief and creditor assistance to savings or an emergency loan, peace of mind may be closer than you think… read more here.
Costa Mesa, Calif., March 18, 2020 - The spread of COVID-19 has caused turbulence in global and U.S. economic markets and local economies. Concern and uncertainty over what's to come have resulted in wild market swings, leaving many Americans questioning the state of their finances. Try to remain calm during these times and if necessary, seek assistance from family and those close to you, and consult professionals before making any big financial decisions. If you're concerned the spread of COVID-19 could impact your personal finances, retirement, personal investments or credit, here are five actions you can take that could help keep you financially sound…read more here.
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