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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.

We are delighted to have announced our proposed acquisition of a 60% stake in Arvato Financial Solutions Risk Management division.   Bringing together Experian’s global data expertise with AFS Risk Management’s market and sector experience will create a uniquely innovative organisation that can offer the best of both companies to the Germany, Austria & Switzerland (DACH) region.   For us in Experian EMEA this is an incredibly exciting moment. Germany is Europe’s economic powerhouse and there is a huge opportunity to bring our Decisioning and Analytics expertise and products like Ascend Analytics on Demand to benefit existing and new clients of both organisations. Not only that, we have the privilege to work with a well-respected, established organisation like AFS Risk Management, with its deep focus on customer service, high-quality products, and solutions tailored for key industries like e-commerce, telecoms and insurance; and with the Bertelsman Group, one of Europe’s leading media groups.   Following completion, our intention is to make a new, joint entity, made up of the best of Experian and AFS Risk Management, delivering broad coverage and a strong product and innovation roadmap across the DACH region. Clients of both organisations will quickly be able to benefit from the strengths each partner brings – as we deliver the best new technologies into the region, enabling them to make better, faster decisions, and ultimately delivering greater access to finance for people across the region.     The acquisition now enters the EU’s standard competition review process. 

As the COVID-19 pandemic continues to disrupt lives across the globe, fraudsters continue to take advantage of the vulnerable situation. The opportunistic nature of fraudsters means that times of crisis and pandemics open up additional breeding grounds for fraud and identity theft. Our latest CrossCore® release has never been more relevant for businesses than right now. Confidently recognizing consumers and safeguarding digital transactions is always a difficult balance – but now more critical than ever. With CrossCore, businesses can limit fraud losses and reduce unnecessary customer friction, at a time when safe and convenient access to financial services is essential.  This new version of CrossCore, our integrated digital identity and fraud risk platform, combines risk-based authentication, identity proofing, and fraud detection into a single, cloud-based platform. This means that businesses have the capabilities and technology they need to rapidly respond to an ever-changing environment. With flexible decisioning orchestration, advanced analytics, and pre-integrated identity and fraud services, businesses can make real-time risk decisions throughout the customer lifecycle. And they can do all of this through simple self-service.  We know there’s no silver bullet when it comes to fighting fraud, which is why we continue to develop our curated partner ecosystem. This gives companies access to all the technology and capabilities they need, in one place – whether it be Experian’s, our partners’, or their own. We combine this with advanced analytics and our own rich data assets plus a built-in strategy design and enhanced workflow giving fraud and compliance teams more control to adjust strategies based on evolving threats. This helps improve efficiency and reduce operational costs.   Updates to the new version include the ability for clients to submit dynamic API request payloads, apply progressive risk assessments, apply parallel logic, enable self-service workflow configurations, and provide an online business intelligence (BI) module to view transactional volume reports. These updates will give CrossCore users a simpler way to manage complex orchestration; faster more scalable performance; and key performance indicators in near real-time, all while enabling a personalized and seamless experience for their true customers.   More than 250 clients worldwide use CrossCore today, including capabilities from our third-party partners. To start leveraging best-in-class, pre-integrated identity and fraud services through simple self-service learn more about the Experian CrossCore platform.  

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. Led by Pan-Asian leadership nonprofit Ascend, this effort is designed to bring about unity at a time when fear about COVID-19 has led to rise of intolerance and racist acts, particularly against the Asian and Asian-American community. Experian is proud to step up as a leader in our industry to participate in this effort. As executive co-sponsors of Experian’s Asian American ERG, we hope you will join us in our efforts to be a champion for diverse communities, especially during this time. You can learn more about #AscendTogether here. Written by: Dacy Yee, Chief Customer Officer ECS Direct-to-Consumer and Jimmy Cheung, Senior Vice President of Technology and Engineering

With the impact of COVID-19, we’re certainly in uncharted territory. Many people are struggling with high unemployment, which is resulting in missed credit card, utility, and rent payments. In response, Experian is joining forces with the other U.S. credit reporting agencies, to offer free weekly credit reports to all Americans for the next year via AnnualCreditReport.com. A credit report allows people to monitor their finances and better understand their overall financial health. We’re proud our industry is uniting to make this possible for all U.S. consumers starting today. Credit reports are updated constantly, so the ability for an individual to look at their report weekly is helpful to monitor for lender updates and ensure there is no fraudulent or unfamiliar activity. During these difficult times, this is especially important. In addition to the free weekly credit report at AnnualCreditReport.com, Experian also offers consumers free access to their credit report, FICO score, and ongoing credit monitoring at Experian.com. This is a no-charge product.  We want to give consumers multiple options to access and manage their credit report. At Experian, we’re committed to enabling fair and responsible lending through the power of our data. As the consumer’s bureau, our goal is to not only help consumers build credit but to get better access to credit. All of us are working diligently every day to keep our data as accurate, relevant, and secure as possible so that lenders can use the data to responsibly extend credit to people who need it most especially when the economy returns to strength. What You Can Do Now  The most vital action someone can take if they are unable to pay a bill is to talk with their lender and inquire about assistance programs that may be available. If a consumer receives an accommodation it will have minimal impact on their credit score if their account is in good standing and if there hasn’t been previous delinquencies reported We remain committed to informing, guiding, and protecting people during these unprecedented times. Beyond our offer for free credit reports, we’ve created a dedicated website, with links to multiple resources and materials to help the community learn about credit and other important personal finance topics. We encourage everyone to visit the Experian COVID-19 Resources & Credit Education. Take care and stay healthy.

The pandemic’s full economic impact is still unfolding, and I can assure you we have not stopped evaluating and evolving our COVID-19 response nor our thinking about economic recovery for consumers and businesses alike. In the last month, we’ve been driven by two major priorities.  The first is the health and safety of our employees.  On top of that, we have placed a laser focus on putting our resources to work to help people and businesses during these uncertain times. While we have all been adjusting to our ‘new normal’ working environment, our employees in North America have not slowed down.  In fact, they have worked hard to create solutions and tools designed specifically to help people successfully navigate the evolving financial landscape.  From free credit reports to complementary ‘payer alerts’ for healthcare organizations to consumer credit education, we’ve launched a wide-range of initiatives. Here are a few highlights I’d like to share with you: FOR CONSUMERS: Experian Credit Report and Score: Consumers can sign up and access their FICO® Score, Experian credit report, and ongoing credit monitoring through Experian’s free CreditWorks product. Consumers can also sign up to Experian Boost, a free financial tool that has helped more than 2 million consumers increase their credit score. Consumer Resources Website: As the consumer’s credit bureau, Experian’s commitment is to inform, guide and protect its consumers and customers during uncertain times. One way the company is doing this is through this dedicated website, with links to multiple resources and materials to help the community learn about credit and other important personal finance topics. COVID-19 and Your Credit Report: Being fully committed to helping consumers and lenders during this unprecedented period, Experian has created this dedicated blog page with ongoing and updated information pertaining to how COVID-19 may impact consumers’ creditworthiness and – ultimately – what people should do to preserve it. The blog will be updated with relevant news as Experian announces new solutions and tactics. #CreditChat: 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. 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 has launched an eight-week series of #CreditChat conversations surrounding COVID-19 on Wednesdays at 3 pm ET on Twitter and live video credit chats every Friday at 12:30 pm ET on Facebook Live. FOR BUSINESSES: Free Experian Business Credit Report: Experian is offering all American-owned small businesses free access to their Experian business credit report through May 1, 2020, to help small business owners impacted by 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. COVID-19 U.S. Business Risk Index: To further help small businesses gain access to capital they need, Experian 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. This new risk index can help business risk professionals better understand the impact that the pandemic may have on commercial operations based on several key factors. This methodology combines business risk, anticipated impact on business industries and real-time COVID-19 case data to help businesses better simulate various impact scenarios down to the state level to help develop relevant strategies. Experian® Health Payer Policy Alerts: This is a free comprehensive list of COVID-19 and telehealth payer policy alerts for United States hospitals, medical groups, pharmacies and specialty healthcare service organizations. Payer policy alerts are provided by commercial, Medicare and Medicaid payers and summarize changes to medical coverage policies from those organizations. This public service to the healthcare community will continue to be updated and remain free as long as alerts related to the COVID-19 pandemic continue to be distributed. At-Risk Audiences: In an effort to help essential organizations, such as healthcare and government agencies, provide resources to those most in need during the COVID-19 pandemic, Experian is leveraging its data assets, free of charge, to identify groups of individuals that are most likely to be impacted. Experian developed new audience segments that are built in a privacy-compliant manner and designed to help these organizations find and communicate with at-risk populations, enabling them to deliver essential services as quickly as possible. Business Resources Website: This newly launched website was developed to help businesses prepare to manage increased attacks, continue to push toward digital banking, and understand regulatory changes as businesses find their footing in this evolving financial services landscape. FOR COMMUNITIES IN NEED: First Responders First: Experian North America is supporting first responder workers by donating funds for personal protective equipment (PPE) to COVID-19 for hotspots in New York City and New Orleans through the nonprofit organization, First Responders First. These funds will provide essential supplies, equipment and resources such as masks, gowns, gloves and more to those on the frontline. Heart of Experian Giving Opportunity: Experian is leading this effort in which employees can assist by making a donation to First Responders First through Experian’s Heart of Experian giving opportunity. Experian will match employee donations up to the annual limit of $500 per employee, while funds last. This donation is the latest support the company has provided to help minimize exposure for those most at risk. For example, in California, the company also donated 12,000 masks to the Hoag Medical Group. I’m proud of the work we’re doing at Experian to help those impacted by this crisis. We remain dedicated to our employees, consumers, businesses and communities – and we will continue to innovate and develop new offerings to help those in need. Craig Boundy CEO, Experian North America