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The recent wildfires in Los Angeles are now among the most destructive recorded in California’s history. Thousands of structures have been damaged or destroyed, and many families are facing the heartbreaking loss of their homes, businesses and personal belongings. The fires have also tragically claimed lives and caused significant injuries.  In the wake of such devastation, the immediate priority for everyone is, of course, ensuring the safety and well-being of themselves and their loved ones.   As communities come together to navigate this challenging time, we are committed to being a resource to consumers. Our hope is to help those impacted by the fires preempt or prevent potential impacts to their financial health and identity where possible.   If you or someone you know has been impacted by the Los Angeles fires, here are some key points to keep in mind.   1. Safeguard Your Identity  Natural disasters can unfortunately create opportunities for identity theft. Important documents containing personal information may be lost or scattered. According to the Federal Trade Commission, instances of identity theft have nearly tripled over the last decade and scammers often exploit chaotic situations and vulnerable consumers.   Be Wary of Scammers: Sadly, following natural disasters, opportunistic fraudsters often deploy schemes tied to charity and donations, insurance, new financing, construction or clean up, and more. These perpetrators may lift and deploy tactics that were successful following natural disasters in other areas and deploy them to target those impacted by the LA wildfires. Stay vigilant against fraudsters who may try to steal your personal information or money through disaster-related schemes or offers that sound too good to be true.  Use Free Credit Monitoring and Fraud Alerts: Take advantage of these services to keep an eye on your credit activity. If you notice anything suspicious, report it immediately to your bank or financial institution.  Consider Freezing Your Credit: If your personal information has been compromised, freezing your credit with the three major credit reporting agencies can prevent new fraudulent credit applications. You can freeze your credit for free with Experian by clicking here or enrolling in its free app on your mobile device.   2. Contact Your Lenders  In times of crisis, many financial institutions are willing to work with affected consumers. If you’re worried about paying your bills on time due to the fires, reach out to your mortgage, auto loan, and credit card companies as soon as possible.  Your lenders can report accounts as deferred or in forbearance if you live in an area impacted by the fires. This means no late payments will be reported, allowing you to focus on immediate concerns. However, interest might continue to accrue on the balance, so be sure to understand the terms of any agreement.  3. Use Your Credit Report as a Financial Tool  Tracking down contact information for each of your lenders can be overwhelming. Your credit report, which you can access for free at annualcreditreport.com or via the Experian website or its free app on your mobile device, can be a helpful starting point.  While, understandably, protecting your credit history or identity may not be your immediate concern, taking a proactive approach could help prevent any or further damage to your financial health at a time when you need access to credit the most.  For more tools and resources to protect your credit standing and financial health, please visit Ask Experian.  

Experian is celebrating the one-year anniversary of The Legacy League Game Show™, a dynamic and interactive event that has revolutionized financial literacy education for students at Historically Black Colleges and Universities (HBCUs) and Hispanic Serving Institutions (HSIs). This innovative program, part of the B.A.L.L. for Life™ initiative, combines the excitement of a game show with essential lessons on credit and financial management. We marked the occasion where it debuted in 2023: at EntreprenUTSA at the University of Texas San Antonio. The Legacy League Game Show™ has traveled to ten universities such as Morgan State and Shaw Universities and major events across the United States. The National Urban League describes the event as transformational; HomeFree-USA calls it a “model for how to teach anything to Gen Z and other generations.” Thousands of students have participated across the country, and more than 99% report an increase in their financial literacy after the experience. As someone whose family didn’t discuss money matters growing up, this impact is especially gratifying. In addition to making learning fun, The Legacy League Game Show™ addresses a critical issue: financial invisibility among young consumers, particularly within communities of color. Forty percent of consumers under 25 are credit invisible, with 26% of Hispanic and 28% of Black consumers affected, compared to 16% of their white and Asian peers.   Special guests, including rapper and college basketball standout Flau’jae, comedian and actor Mike Merrill, Louisiana State University wide receiver Chris Hilton, Jr. and Grammy-nominated D Smoke have joined the game show, adding star power and excitement. Next year, The Legacy League Game Show™ will hit the road again, visiting more schools and events. We already have stops planned at the #IYKYK Pitch Competition in partnership with HomeFree-USA, the University of Illinois in collaboration with the Hispanic Alliance for Career Enhancement (HACE), and the UnidosUS National Conference. Check out the action from our 2024 stops by clicking here.Learn more about Experian’s commitment to underserved communities in The Power of YOU 2024: Diversity, equity, inclusion and social impact report.

Modernizing the conversation around credit and financial literacy is a key commitment for Experian, especially for young adults. That’s why we partner with organizations like the Singleton Foundation to produce “Your World on Money,” to meet young people where they are, with engaging, easy-to-understand video shorts about credit, budgeting, and saving and more.   We’re thrilled this commitment and creativity has earned both Gold and Bronze Anthem Awards, which recognize excellence in social good, celebrate the impactful work of organizations and initiatives that are driving positive change. Financial literacy is often not taught in schools, and the language around credit and personal finance can be intimidating. By normalizing these conversations, we hope to inspire confidence and action, helping young adults make informed financial decisions as they navigate life’s milestones. Our United for Financial Health partnership with the Singleton Foundation continues with our new series, the Finance Couch, where college students join our experts on a coach in the middle of a Los Angeles campus to answer their money questions. And our Anthem Award-winning series, HeartBroke, helps couples whose relationships are tested with financial issues to determine if they can work through it or end up HeartBroke(n).

Throughout time, we’ve seen examples of how new technologies can reshape the way we live our lives and manage our finances. As a millennial, the standouts to me are the start of the internet and the rise of the smart phone and mobile banking. Each innovation has opened new ways of learning and simplifying the way we do things.  Now, we find ourselves on the brink of another intriguing shift with the rise of generative AI. This development is especially timely, as we know consumers are hungry for information and resources to improve their credit scores and overall financial health. To get a better sense of how consumers are tapping into this technology, we deployed a survey which showed a significant number of Americans are already embracing generative AI. In fact, 63% of consumers are familiar with generative AI, including 84% of Gen Zers and 79% of millennials. Having learned about finances through trial and error (an approach I wouldn’t recommend), and now dedicating myself to consumer education advocacy, I find this incredibly exciting. Especially considering many consumers, nearly half, are also beginning to tap technology to help manage their personal finances. It’s perhaps no surprise this resonates most for America’s youngest consumers, with 67% of Gen Zers and 62% of millennials stating they use or are considering to use the technology to manage their personal finances. The good news is consumers who are using the technology for personal financial management are reporting an overwhelmingly positive experience – an impressive 96% reported positive experiences and 77% stated they use generative AI for personal financial tasks at least once a week. Key findings include: FINDINGSTOTALGEN Z (18-27)MILLENNIAL (28-43)GEN X (44-59)BOOMER (60-78)SILENT (79+)Indicate they are somewhat or very familiar with GenAI technology63%84%79%58%40%29%Indicate using GenAI to learn about a new topic or personal finances33%46%43%28%19%18%Indicate they are using or considering using GenAI powered tools or apps to help with managing personal finances47%67%62%41%28%23% As we continue to explore the benefits of generative AI, it’s clear this technology can be a valuable resource for improving financial literacy as we look ahead. We believe that the responsible use of AI can open new opportunities for consumers seeking to enhance their financial health. However, as with anything new, there are a few things consumers should keep in mind if they are currently leverage, or considering leveraging generative AI to learn about or manage their finances or credit scores, including: Don’t forget the basics: While there’s no question generative AI can be a helpful tool for managing your finances, consumers shouldn’t lose sight of the “old school” ways to protect their financial health and credit standing. This includes checking your credit report and scores regularly. You can get a free copy of your Experian credit report and FICO® Score[1] updated daily at www.experian.com or via Experian’s free mobile app. Consumers can also get a free credit report from each of the three credit reporting agencies once a week at www.annualcreditreport.com.  Verify your findings: Generative AI tools are only as good as the information they consume and there’s no shortage of misinformation about managing your credit scores and finances that exists online. Always cross-check AI-generated financial advice with reputable sources. You can find answers to many personal finance and credit-building questions on Ask Experian—Experian’s free credit advice blog. Be safe and use generative AI responsibly. Many of the generative AI tools that exist today collect and store user data. Be mindful of the personal information you share with generative AI tools to ensure your information is protected. In short, the rise of generative AI marks a pivotal moment in personal finance education, and an exciting one for me. As we embrace this technology, I believe we can create a more informed and financially empowered consumer base. [1] Credit score calculated based on FICO® Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether. Learn more.

We believe that financial literacy leads to empowerment. That is why Experian supports initiatives and partners with community organizations to deliver financial education. We also develop products and services that give more control to consumers over their credit profile and financial health. As part of advancing our mission of Financial Power to All®, we are proud to announce we are helping more than 5,000 Hispanic individuals nationwide by relieving $10 million dollars of consumer debt. To provide families with this boost, we joined forces with ForgiveCo, a Public Benefit Corporation (PBC), to administer the acquisition and cancellation of qualifying consumer debt for the selected recipients. Beneficiaries will also receive a one-year premium Experian membership for free that offers access to their Experian credit report in English and Spanish[i], FICO® Score[ii], bilingual educational content, and other financial resources. We hope this effort helps raise awareness of the importance of financial literacy for everyone, and that Experian has resources to help individuals reach their financial dreams.  To amplify the message, we collaborated with multi-platinum, award-winning singer and songwriter Prince Royce and you can see his video here. In fact, we have been making a concerted effort the last several years to evolve our educational resources and products to better support all underserved communities. Some of our other activities include the creation of the B.A.L.L. for Life initiative that connects African American and Hispanic youth with financial education, supporting scholarships for Asian Americans through the Ascend organization, providing custom resources for Out & Equal and Born This Way Foundation for the LGBTQ+ community, supporting the NextGen Innovation Lab for Disability:IN, and sponsoring credit counseling for the military community with Operation HOPE. For resources in Spanish, Experian offers a credit e-book and consumers can access a full suite of articles at the Ask Experian blog here. [i] Only Experian credit reports are available in Spanish. All other services associated with an Experian membership are available in English only. English fluency is required for full access to Experian’s products.  [ii] Credit score calculated based on FICO® Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether. Learn more.

Experian hosting Future of Fraud and Identity event during National Cyber Security Awareness Month Costa Mesa, Calif., Oct. 13, 2014 — Identity and fraud concerns are a pressing global issue for many industries, including financial services, public sector and retailers. With the rise in security and data breaches, many organizations across the United States are particularly challenged, due to the growth of malware viruses, mobile-payment advancements and the need to authenticate online and mobile consumers better. To help business leaders address these rising fraud and identity issues, Experian® is hosting the Future of Fraud and Identity event on Oct. 21 in New York City, N.Y. The event will feature: Ori Eisen, Experian fraud expert and founder of 41st Parameter, highlighting the current trends in cybersecurity and how technology can combat these major threats Frank Abagnale, of Catch Me If You Can fame and respected authority on financial crime and fraud, sharing his personal story highlighting his work with numerous financial institutions over the past 38 years Charles Chung, president of Experian Decision Analytics, a global leader in fraud and identity products, opening the event Jon Jones, senior vice president of fraud and identity for Experian Decision Analytics, presenting Experian’s strategic view on identity risk management Many organizations are trying to address fraud risks while adapting to the changing habits of customers. One example of this is the acceptance of new mobile-payment options that are driving a transformation of the payments ecosystem. Current mobile-fraud trends include the use of increasingly sophisticated malware as attackers capitalize on banks and retailers providing these new service offerings to consumers via mobile devices. “Gaining control in this dynamic fraud environment is a major challenge for businesses as the Internet and mobile technologies were not designed with fraud in mind. Consumers accessing their financial or personal data at any time is a key fraud risk today, further enabling criminal activity,” said Eisen. “As companies invest to meet customer expectations and ensure that payments are secure and reliable, we see an urgent need for proactive next-generation security measures with fraud detection and intelligent device identification for corporate accounts and online transactions.” In 2013, identity theft affected more than 13 million U.S. consumers and accounted for more than $18 billion in losses. As technologies evolve and information security tightens, the savvy nature of fraudsters becomes more sophisticated. As a result, fraud management needs to evolve and include both offline and online fraud strategies to provide a panoramic view of the customer. In order to achieve this, authentication processes need to become seamless and straightforward to allow both the consumer and the business to feel confident in the authentication process while creating a positive customer experience. “Serious risks are emerging for consumers and businesses as fraudsters identify new targets to attack. The monetary cost of fraud losses can be high, but the impact a loss or breach can have on customer relationships and brand integrity can be even higher,” said Chung. “Combining comprehensive authentication processes with proportionate measures to monitor user activities and protect consumer data throughout the life cycle is a competitive requirement in today’s market.” The Future of Fraud and Identity event will take place on Oct. 21 in New York City, from 7:30 a.m. to noon at the Helen Mills Event Space at 137 West 26th Street.

According to new research from Experian Marketing Services, a recognized leader in data-driven marketing, 90 percent of marketers struggle to move beyond single-channel marketing programs to optimize their marketing across channels or around the customer. The company today announced an expansion of its strategic, cross-channel consulting offerings to address this need and help organizations increase the sophistication and effectiveness of their marketing programs. Marketers can now take a free online assessment to discover where their organization falls on Experian’s Marketing Sophistication Curve The new program, which offers marketers strategic guidance around common marketing pain points, is designed to help them progress up Experian’s Marketing Sophistication CurveSM. The curve is a framework and road map that allows organizations to accurately assess the state of their marketing operations and identify the steps necessary for creating individualized marketing experiences around the customer. “Recognizing the need to change and knowing how to make that happen are two entirely different things,” said Matt Seeley, president, Experian Marketing Services, North America. “While the industry is exploding with marketing clouds and automation technology, most organizations have unique challenges that off-the-shelf software doesn’t address. Experian’s Marketing Sophistication Curve offers marketers help with the first critical step in that process: an understanding of where you are today and what you need to do tomorrow.” Experian Marketing Services is offering marketers a chance to identify where they fall on the curve on its Website. The four phases of Experian’s Marketing Sophistication Curve The culmination of more than 30 years of experience working with the world’s top brands to improve their marketing effectiveness, Experian’s Marketing Sophistication Curve outlines four primary phases of marketing sophistication: Phase I: Single-Channel Optimization — Brands at this stage seek new sources of data and analytical approaches to do more with existing programs and tools. They struggle to achieve a higher performance from data-driven campaigns. Phase II: Multichannel Marketing — Organizations at this stage engage customers across multiple channels but seek greater consistency. They struggle to incorporate newer channels, like mobile, into their messaging strategy. Phase III: Cross-Channel Marketing — The marketing organization at this stage implements cross-channel marketing programs but struggles to organize data and target campaign content around customers easily, consistently and in useful time frames. Phase IV: Cross-Channel Optimization — This is the apex of modern marketing, where customer context, location and timing merge with every imaginable form of customer data to create a single, shared and immediate view of the customer across all channels. Improving marketing by addressing the common pain points Experian Marketing Services’ new cross-channel consulting program offers marketers a set of new bundled offerings around three common pain points that must be addressed as marketers move from one phase of the curve to the next: acquisition, growth and retention, and win-back. “As new technologies and channels are introduced, consumer behavior changes, and in return how we assess and approach these traditional marketing issues needs to evolve,” continued Seeley. “The curve’s framework and the addition of the new strategic consulting bundles to our existing portfolio are part of our long-term commitment to be both a superior marketing technology provider and a strategic partner for leading marketers around the world.”

Experian Consumer Services in association with Univision Communications Inc., the leading media company serving Hispanic America, recently launched a Spanish-language, credit-focused product and online financial resource center for the U.S. Hispanic community called Crédito y Más. The new product was developed to improve Hispanics access to credit education and resources. With Crédito y Más, consumers can check their credit score, receive a credit report, and have credit monitoring, among other benefits and access the information in Spanish or English. One of the most valuable features is the Centro de Información™, a robust resource center with articles, videos, financial calculators, a glossary of key credit terms and more.

How can I improve my credit score? That’s a question thousands of consumers ask Experian every day. This question is asked even more frequently now that lenders are sending an estimated 120 million credit-score disclosures each year to consumers when they are denied credit or are offered terms that are less favorable than those offered to others. These score disclosures provide consumers with basic information about the score used in a transaction and direct them to the national credit bureaus if they have any questions. However, when consumers ask Experian how they can improve their credit standing, it’s difficult to respond in an easy and consumer-friendly way. The difficulty arises because, although we want to help, the Credit Repair Organizations Act (CROA) puts substantial roadblocks between credit bureaus and consumers.

Just a little over a week ago, I was in New Orleans surrounded by interesting, engaging and financially-savvy people with a common interest. All of these people were brought together for FinCon Expo, which took place from September 18-21. It was not only a tremendous financial media community networking event, it was an opportunity to learn, grow and find inspiration. From the Experian perspective, it was an opportunity to further build and focus on our social channels as a way to reach consumers and provide education and dialog around credit and financial empowerment. The two-day conference featured an expo hall where one could score some great information (along with some cool swag), keynote sessions that were led by powerful speakers like Jeff Goins, Farnoosh Torabi and Chris Ducker, and a full daily schedule packed with educational sessions and panel discussions (and of course, a lot of beignets served along the way).