Corporate Responsibility
“What does a credit bureau do?” is one of the most common questions I’ve answered throughout the years – both at conferences and cookouts. Admittedly, it can be difficult understanding the different roles of credit bureaus, credit score companies, and lenders. Amid COVID-19, it’s important for us to define our purpose and help guide you toward the right resources for financial help. As the consumers’ bureau, Experian is committed to examining financial questions and helping consumers, businesses, and lenders navigate this transitional fiscal landscape. It’s important for you to know your financial options and how to separate fact from fiction, especially during times of crisis. Here are answers to some of the most common questions about credit. Do credit bureaus make lending decisions? This is one of the rare instances in credit reporting for which there is a simple answer. No, credit bureaus do not make lending decisions. Lenders – such as banks, mortgage companies, credit unions, and credit card issuers – help consumers borrow money and they make the lending decisions. The credit bureaus are responsible for working closely with lenders to provide information that helps them make informed and responsible lending decisions. At Experian, we equip lenders with accurate and complete data about consumers’ and small businesses’ credit activity and payment history, which enables lenders to develop a full picture of a borrower’s financial health. During COVID-19, it is important for there to be open lines of communication between consumers and lenders about upcoming payments and payment plans. Some lenders are offering deferments and other workable accommodations to ensure consumers do not fall behind on their payments. It is important for consumers to contact their lenders to understand what options are available to them. Do credit bureaus control my credit score (and whether it goes up or down)? Credit bureaus, like Experian, do not determine your credit score. Credit scores are calculated based on third-party credit-scoring models, like those developed by FICO or VantageScore Solutions. These models use information from your credit reports, including credit activity sourced from credit bureaus, to calculate a credit score. The scoring models are proprietary to the companies that develop them. In the most fundamental terms, the credit bureaus are responsible for compiling the credit reports. The scoring companies create algorithms that calculate the score. Credit scores reflect the information in your credit report at the moment the credit score is calculated. The scores will change to reflect changes in your credit report. You control how you use credit, so you play an important role in determining whether your scores trend upward or slip downward. If you consistently make good credit decisions, your scores will trend upward over time. Reviewing your credit report helps you manage your credit and gives you a full picture of what lenders see. Monitoring your credit report is as important as reviewing bills and bank statements, as your credit is an integral part of your overall financial health. Additionally, with an increase in phishing and cyberscams as a result of COVID-19, it’s especially important to stay informed about your credit report, so that you can dispute anything you believe may be inaccurate and ensure that there is no evidence of fraud that could impact your score. Are lending decisions based solely on my credit score? No, credit scores are just one factor in lenders’ decision-making process. Lenders consider additional information when making a decision, such as employment status, income and information about a consumer’s assets and liabilities. In the wake of COVID-19, lenders may start to tighten their credit standards – meaning consumers may need a higher score to receive a loan. Because of this, it is important to be proactive and take action to mitigate any potential negative impact on your credit score. If you’re worried you may miss a payment, contact your lender to discuss your options. Through April 2021, Experian has partnered with our peer credit bureaus to offer a weekly free credit score at https://www.annualcreditreport.com/. This additional measure will allow consumers to access their credit reports frequently and talk to their lenders with the most updated information possible. How are credit bureaus working with the government during COVID-19? At Experian, we fully supported the signing of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which provides relief to Americans through expanded unemployment coverage and by providing grants and loans to small businesses. The CARES Act also provided important guidance to lenders about how to work with consumers affected by COVID-19. Experian is working with lenders to ensure appropriate accommodations are made to protect consumers. Additionally, the credit reporting industry has developed reporting standards for lenders to use during emergency periods, such as COVID-19. These reporting standards allow lenders flexibility when reporting accommodations made to consumers who are experiencing hardships due to the pandemic. For additional questions regarding COVID-19 debt and credit relief options, view Experian’s full list of financial and non-financial institutions’ websites where you can find information on relief measures: COVID-19 (Coronavirus) Credit Card and Debt Relief.
Small businesses are the backbone of our nation’s economy, generating 44% of the nation’s overall revenue. When they take a hit, we all feel it. But as good neighbors – and frequent patrons – we can find a path toward keeping these small businesses on their feet and reopening their doors as soon as possible. At Experian, our obligation is to fight for small businesses that have been impacted by COVID-19. Main Street America reported in April that “COVID-19 has had a devastating impact on small businesses’ revenue…Approximately 35.7 million Americans employed by small businesses are at risk of unemployment as result of the COVID-19 crisis.” That is why we moved quickly to support the signing of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), providing relief to Americans through expanded unemployment coverage and by distributing grants and loans to small businesses. Acknowledging the unprecedented financial difficulties many are facing, lenders have established relief options for customers unable to make scheduled payments. In an effort to safeguard consumers against potential delinquency and protect credit, the CARES Act calls for creditors to adjust reporting systems for those taking advantage of these relief options. Simply put, your small business’s credit score shouldn’t be your biggest concern these days, and the CARES Act works to ensure that. We know there’s more work to be done to help small businesses navigate these challenging times. We’ve outlined the following steps to keep your business’s credit on track during the pandemic, taking advantage of resources and services we recently launched: Call Your Lender: If a customer or small business is unable to pay a bill, the most critical action they can take is to call their lender and inquire about available assistance programs. If consumers are able to get an accommodation, they can stop a missed payment from negatively impacting their credit. Business Resources Website: Experian has launched a website to help businesses prepare to manage increased attacks, push toward digital banking and understand regulatory changes as businesses find their footing in this evolving financial services landscape. Credit Report Access for All: Experian is offering all consumers access to a free credit report, FICO score and credit monitoring through our CreditWorks product, which also provides access to Experian Boost, a financial tool that has helped more than 2 million consumers increase their credit score to date. This is in addition to the free weekly credit score we are offering in coordination with our peers through annualcrediteport.com. COVID-19 U.S. Business Risk Index: Experian has launched a new service to help lenders and government organizations understand how to make lending options available to the business segments that need it most. This, in turn, directly helps small businesses gain access to capital they need. The public tool includes a risk simulator broken down by state to keep business owners updated on how COVID-19 is affecting specific industries in a particular region. As a nation, we have learned many lessons from the 2008 financial crisis. One vital lesson that sticks with us at Experian is that we’re better at tackling challenges as a collective financial industry, with transparency and a lending hand. At Experian, we’re committed to helping small businesses land back on their feet, and we’ll be there when the backbone of our economy needs additional support down the road.
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
As I reflect on the impact COVID-19 has had on my work and family life, I’m reminded of the things I once took for granted. My day-to-day routine has evolved into one of working from home, helping to take care of my toddler, and at times, doing so while on conference calls, sorting out the next grocery delivery, and writing this blog. While it’s a challenge, I’ve come to appreciate and value many of the things I’ve once taken for granted. But I also understand, I’m not the only person experiencing change. Across the globe, lives have been upended. The impact of the COVID-19 outbreak has been far-reaching and felt by hundreds of millions of people; whether due to family members that have fallen ill, job loss, shortened working hours or their children out of school. COVID-19 is an existential challenge that no one industry or entity can single-handedly address; we all need to play our part. Some companies, such as Fanatics, Ford, General Motors and Tesla, have shifted production efforts to focus on manufacturing medical resources, including personal protective equipment and ventilators. Others are donating free meals and resources to help consumers across the globe manage during this unprecedented time. Much like these organizations, Experian is committed to helping consumers and businesses navigate our current environment. We’ve expanded our financial education programming with the goal of helping consumers maintain good credit and protect their financial health. We’ve also offered small businesses free access to their Experian business credit report to help them better gauge their financial options and understand what capital is available to them. But as the world continues to combat the pandemic, we, like others, must look for new and additional ways to help. As essential organizations extend outreach efforts for those impacted by the outbreak, we believe data and technology can help them identify the groups that are most at-risk. With finite resources and limited bandwidth, it’s important for these organizations to communicate with at-risk populations and provide essential products and services as quickly as possible. With this urgency in mind, Experian developed At-Risk audience segments, which it is making available free of charge to essential organizations, such as government agencies, healthcare providers and non-governmental organizations, to help combat the fallout of the COVID-19 outbreak. The segments are built in a privacy-compliant manner and provide insights to help essential organizations reach those most in need. Organizations can use the information to determine where to allocate emergency funds, as well as redirect healthcare resources. Because the situation associated with the pandemic is changing seemingly every day and is impacting individuals in different ways and times, we also instituted a daily survey of the general population to gain insights around shifting consumer sentiment as a result of COVID-19. The insights from the survey will help organizations understand consumer sentiment during this difficult time and begin the process to identify at-risk populations. As of April 8, 2020, the survey found that: 73 percent of Baby Boomers are concerned about visiting the doctor and/or would hold off seeking care. 60 percent of Americans are concerned about filling prescriptions and/or accessing healthcare resources. 64 percent of Americans are concerned about their ability to access food and other essentials. COVID-19 has impacted consumers and businesses across the globe. As we all adapt to the new environment, we need to work together and collaborate to find ways to combat the fallout. Experian will not be stopping here, and we are committed to developing new ways to use our resources, data, technology, and creativity to help be part of the solution.
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. This is in addition to processes and tools the industry has in place to help lenders accommodate situations where consumers are affected by circumstances beyond their control. These processes will be extended to those experiencing financial hardship as a result of COVID-19. As the Consumer’s Credit Bureau, our commitment at Experian is to inform, guide and protect our consumers and customers during uncertain times. With expected delays in bill payments, unprecedented layoffs, hiring freezes and related hardships, we are here to help consumers in understanding how the credit reporting system and personal finance overall will move forward in this landscape. One way we’re doing this is inviting everyone to join our special eight-week series of #CreditChat conversations surrounding COVID-19 on Wednesdays at 3 p.m. ET on Twitter. Our weekly #CreditChat program started in 2012 to help the community learn about credit and important personal finance topics (e.g. saving money, paying down debt, improving credit scores). The next several #CreditChat events will be dedicated to discussing ways to manage finances and credit during the pandemic. Topics of these #CreditChats will include methods and strategies for bill repayment, paying down debt, emergency financial assistance and preparing for retirement during COVID-19. “As the consumer’s credit bureau, we are committed to working with consumers, lenders and the financial community during and following the impacts of COVID-19,” says Craig Boundy, Chief Executive Officer of Experian North America. “As part of our nation’s new reality, we are planning for options to help mitigate the potential impact on credit scores due to financial hardships seen nationwide. Our #CreditChat series and supporting resources serve as one of several informational touchpoints with consumers moving forward.” Being fully committed to helping consumers and lenders during this unprecedented period, we’ve created a dedicated blog page, “COVID-19 and Your Credit Report,” 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 we announce new solutions and tactics. Additionally, our “Ask Experian” blog invites consumers to explore immediate and evolving resources on our COVID-19 Updates page. In addition to this guidance, and with consumer confidence in the economy expected to decline, we will be listening closely to the expert voices in our Consumer Council, a group of leaders from organizations committed to helping consumers on their financial journey. We established a Consumer Council in 2009 to strengthen our relationships and to initiate a dialogue among Experian and consumer advocacy groups, industry experts, academics and other key stakeholders. This is in addition to ongoing collaboration with our regulators. Additionally, our Experian Education Ambassador program enables hundreds of employee volunteers to serve as ambassadors sharing helpful information with consumers, community groups and others. The goal is to help the communities we serve across North America, providing the knowledge consumers need to better manage their credit, protect themselves from fraud and identity theft and lead more successful, financially healthy lives. COVID-19 has impacted all industries and individuals from all walks of life. We want our community to know we are right there with you. Learn more about our weekly #CreditChat and upcoming schedule here.
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. We understand how important it is for you to protect your home. Thankfully, we’re seeing mortgage lenders, federal associations and the financial industry working together in truly unprecedented ways to help consumers cope with new financial challenges brought on by COVID-19. Last week, the Department of Housing and Urban Development, Fannie Mae and Freddie Mac -- two of the largest mortgage services in the county -- announced they are suspending foreclosures and evictions for at least 60 days. You can read more about this announcement here. This was followed by New York, an area hit particularly hard by COVID-19, urging mortgage servicers to refrain from reporting late payments for 90 days. The order outlines ways lenders can provide support to consumers who are unable to make timely mortgage payments, including forbearing mortgage payments for 90 days from their due dates. As part of this, late payments would not be reported to credit reporting agencies like Experian for 90 days and consumers would not have to pay late or online payment fees. The order also postpones foreclosures and evictions for 90 days and requires lenders to proactively outreach to consumers, through text, email or other means to ensure they’re aware of the assistance that’s being offered. Los Angeles, Miami and other cities across the U.S. are now also halting evictions. This news was shared in conjunction with Bank of America announcing additional support to borrowers, including the option to defer, or essentially pause, mortgage payments during the current outbreak. Many of the largest mortgage lenders in the country are offering the same support to consumers. Please note, the Department of Housing and Urban Development, Fannie Mae and Freddie Mac acted fast, and these are the guidelines as of the time when this article was written. As things are still early, our Experian mortgage team will stay abreast with potential new developments and update this information if or as things will change. These are unprecedented times and we are starting to see lenders and consumers engage in equally unprecedented ways as we work to overcome the new reality we’re all facing. At the same time, we are seeing interesting trends unfold in terms of mortgage lending activity. According to the Mortgage Bankers Association, as of March 25, 2020, these include: Refinancing existing mortgages, which has been booming with interest rates at historically low levels, declined almost 35% compared to the previous week, but is still twice as high as it was the previous year. Not surprisingly, the states with the biggest declines are the states hardest hit by the COVID-19 outbreak (i.e. New York, Washington, and California) In addition, with the economy under pressure, there was a nearly 30% decline in weekly new mortgage applications. If you or someone you know is a homeowner, I hope you found this information useful. Remember, if you are concerned you may miss a mortgage payment, the first and best move you can make, to protect your home and your financial health, is to contact your mortgage lender as soon as possible. Lenders do not want you to miss a payment any more than you do. They can discuss options for navigating these unusual circumstances. Keep in mind, these programs are available to you if you are facing financial hardship due to the COVID-19 crisis, for example, if you lost your job or had to be hospitalized. Of course, we’re all hoping not to be in either of these categories. If you haven’t been financially impacted by the current COVID-19 crisis, you are expected to continue to make your mortgage payments (and meet all your other financial obligations). You should feel good about being able to do that as it will make you part of the important group of individuals who can keep contributing to sustaining the American economy.
We are proud of our workplace culture at Experian North America. Today, we released our third annual inclusion and diversity “2019 The Power of You” report. We encourage our employees to bring their whole selves to work and have created a culture of inclusion that helps to fuel our continued product innovation. Our Power of You movement began in 2017 to raise awareness about our efforts around inclusion and to provide employees with greater transparency of the initiatives that are part of this program. Progressive policies across a wide range of initiatives such as pay equity, paternal leave, flexible working arrangements and corporate social responsibility help to make our employees feel proud, committed and empowered to work at Experian. “Diversity of background, of experience and of thought bring new ideas to our organization which foster the innovation that helps to improve the lives of consumers every day. Our culture of inclusion and diversity underpins our business success which, underpins what our brand stands for,” said Craig Boundy, CEO of Experian North America. “With the launch of our ‘2019 The Power of You’ report, we are excited to share how our inclusive workplace is helping to drive our culture of innovation.” Some highlights of our 2019 report include: We have 1,200 women in STEM positions 47% of new hires are women and 44% are non-white Women and men are promoted equally We created our newest ERG, Aspire, which focuses on mental health and physical disability awareness and caregiving We have a total of eight ERGs with 1,200 active participates Employees participate in events including charity walks, fundraising events, and toy and food drives, among others Events recognize International Women\'s Day, Veteran’s Day, the Lunar New Year, National Coming Out Day, Cinco de Mayo, Asian Pacific American Heritage Month, Black History Month, Ramadan, Kwanzaa, Hispanic Heritage Month and Diwali, among others Employees spent more than 12,000 hours volunteering With the support of our employees, we donated more than $10,000 for California wildfire relief to the Red Cross Employees packed a total of 65,880 meals volunteering with Rise Against Hunger locations in Costa Mesa, Allen and Franklin, California We currently have 38 clubs with 800 members We rolled out a new Paid Family Care Leave Program, expanding on our existing Paid Parental Leave Program Additional programs include the launch of a new, enhanced Employee Assistance Program, which offers a greater level of resources and benefits for mental and behavioral health for employees and families and the Experian Hardship Fund, launched in 2018 to help employees who are facing financial hardship. We continued our Humans of Experian video series, which highlights the stories of employees who have unique backgrounds that enhance the diversity of our company. We also had hundreds of our employees from throughout the organization volunteer to personally evaluate Experian Boost™. Employees participated in this program because they believed in the product’s potential to help millions of Americans. At Experian, we continuously foster a culture of development and growth and we have various forms of mentorship, career paths and leadership programs to support our employees. Our commitment to creating an inclusive workplace has also received numerous accolades. We were named one the 100 Best Companies to Work For in 2020 and one of the Best Workplaces for Diversity in 2020 by Fortune and Great Place to Work. Additionally, for the second consecutive year, we were awarded a perfect score in the Human Rights Campaign Foundation\'s 2020 Corporate Equality Index. Experian was also named a Top Workplace in 2020 in Orange County, Calif., by the Orange County Register for the seventh consecutive year, and one of the world\'s most innovative companies by Forbes magazine for five years. A copy of this year\'s report can be found here.