Financial Empowerment

The last several months stand out as one of the most dynamic periods in my career. To say it’s been an exciting time would be an understatement. For more than 20 years, the mortgage industry has relied on a single way to measure creditworthiness. With the Federal Housing Finance Agency’s decision to approve VantageScore 4.0 for use in mortgage decisions, that long-standing approach is evolving.  At Experian, we’ve advocated for score choice in mortgage from the very beginning. We believe in modern scores because they allow more of Experian’s rich, differentiated data to be used in lending decisions. Because this data provides a more complete picture of a consumer’s financial health, it creates new opportunities to expand access to homeownership.  At the same time, significant change naturally brings questions and debate. New models. New data sources. New decisions to make. New ways of doing things. Across the industry, there’s been a lot of discussion about what these changes mean in practice, how they impact lenders and consumers, and how the industry moves forward from here.  I recently had the opportunity to talk through many of these topics with Robbie Chrisman on the Chrisman Commentary Daily Mortgage News Podcast. Our conversation focused on bringing clarity to some of the most common questions I’m hearing today, while also looking ahead to the opportunity in front of us: modernizing mortgage decisions in a way that reflects how consumers actually live and manage money to help more consumers realize their dreams of homeownership.   We discuss the fundamentals, including the difference between credit reports and scores (and why that distinction matters), how expanded data, including things like rental data, cash flow insights and buy now, pay later information, can help lenders make more informed decisions and how we can help turn today’s renters into tomorrow’s homeowners. We separate fact from fiction on credit report pricing and we take a forward look at where we can, collectively as an industry, go from here.    The good news is: Consumers haven’t stopped believing in homeownership. Our systems just need to continue evolving to reflect the way people live and manage money today. With better data and more modern tools, we are moving in the right direction.   To hear more, listen to my full conversation with Robbie Chrisman on the Chrisman Commentary Daily Mortgage News Podcast. 

At Experian, our mission is to bring financial power to all. That means breaking down traditional boundaries, creating pathways for those historically left out of the financial system, and working alongside organizations that share our commitment to inclusion. Credit Builders Alliance (CBA) is one of those partners. For years, CBA has connected community-based nonprofits with the major credit reporting agencies, helping credit-challenged consumers to build or rebuild credit – often for the first time. Our latest analysis done in partnership with CBA shows just how transformative this work can be. From unscored consumers reaching prime tiers to deep-subprime consumers seeing meaningful improvements, the data underscores a truth CBA has championed from the beginning: when people are given the opportunity to build credit, they use it to move forward. I recently had the opportunity to sit down with Dara Duguay, CEO of Credit Builders Alliance, to discuss these findings, the work her organization leads, and what’s needed to continue expanding access to fair, affordable credit for underserved communities. Q1: For those who may be unfamiliar, what is Credit Builders Alliance? Who do you serve and what role do you play in the financial ecosystem? Dara:Credit Builders Alliance is a national nonprofit network made up of community-based organizations, nonprofit lenders, and financial capability providers. Our mission is to help low- and moderate-income individuals and families build credit as an asset and gain access to the financial mainstream. We help nonprofits report loan repayment data to credit bureaus like Experian and we support organizations in strengthening their credit-building programs with training, tools, and technical assistance. Many of the consumers our member organizations serve start out with limited or no access to traditional financial products. Our work helps create pathways for them to demonstrate trustworthiness, build credit, and eventually qualify for mainstream financial opportunities. Q2: Experian recently released an analysis highlighting the impact of CBA tradelines on consumer creditworthiness. What stood out to you in the findings? Dara:The data was incredibly affirming. Seeing that 70% of previously unscored consumers with a CBA tradeline reached prime or near-prime within a year highlights just how powerful inclusive credit reporting can be. It shows that when people with limited credit histories are given the opportunity to demonstrate responsible repayment, they make enormous progress. I was also encouraged by the 48-point average increase among deep subprime consumers. These gains can dramatically change someone’s financial trajectory through lower borrowing costs, access to better financial products, and more stability for their families. More broadly, this analysis reinforces what we see daily: thoughtful credit-building programs, when paired with education and support, create real and lasting change for consumers who need it most. It shows subprime consumers can perform when given the opportunities that they are often denied. Q3: From CBA’s perspective, what approaches best help financial institutions better serve underserved consumers? Dara:A major opportunity is for financial institutions to embrace alternative data that reflects consumers’ real financial lives. Data plays such a vital role in lending decisions and expanding access to fair and affordable resources; we have to modernize our approach. Many people pay their rent, utilities, and telecom bills on time every month, yet historically these payments haven’t counted toward building credit. We’ve seen incredible momentum around rent reporting, and the impact is significant –especially for people with thin or nonexistent credit histories. Rent is often a person’s largest monthly expense, and when that positive payment history is reported, it can quickly establish or improve credit. This progress has become even more meaningful with the Federal Housing Finance Agency’s approval of VantageScore 4.0 for use in mortgage underwriting. Because VantageScore 4.0 incorporates rental payment data where available, these reporting efforts can now play a more direct role in expanding fair access to homeownership for consumers who have historically been left out. In addition, programs like Experian Boost show how empowering it can be when consumers have agency over the information included in their credit files. This feature allows people to get credit for utility, telecom, streaming, rent payments and many other things they are already doing responsibly. It’s a great example of meeting consumers where they are and acknowledging financial behaviors that have historically gone unrecognized. Financial institutions should continue looking for ways to bring these types of innovations to more consumers, especially those overlooked by traditional models. Q4: From your view, how do companies like Experian help advance financial inclusion? Dara:Experian plays an essential leadership role in expanding access to credit, especially through initiatives that rethink how data can work for consumers rather than against them. They’ve been a leader in modernizing the credit reporting industry. Programs like Experian Boost are great examples of that—giving consumers the option to add positive payment information and potentially improve their credit in a matter of minutes. It’s a simple concept, but it has opened doors for millions of people who previously struggled to gain traction in the system. Similarly, Experian’s commitment to supporting rent reporting has been a major step forward. The ability for tenants to build credit through their rent payments, which is one of the most consistent household expenses, helps create equity for people who might not have access to traditional credit-building products. And on a broader level, Experian’s willingness to partner with mission-driven organizations like CBA demonstrates a shared belief that credit is a gateway to opportunity. With analytical insights like our most recent study, Experian is helping validate the importance of inclusive reporting and informing the industry about the real-world benefits for underserved communities. Q5: What misconceptions do you see about credit-challenged consumers, and what should the financial industry understand? Dara:One of the biggest misconceptions is that people with limited or poor credit histories lack financial discipline. In reality, many of them pay significant bills, including rent, utilities, childcare and more, on time every month but simply don’t receive credit for it in the traditional scoring system. Another misconception is that credit building loans or other community-based nonprofit lender products don’t make enough of a difference to report. But as this analysis shows, they absolutely do. Even a single tradeline can serve as a bridge toward greater financial stability. The industry should recognize that credit-building is a foundational tool for economic mobility, and millions of people need better access to programs that support it. My conversation with Dara reinforces what makes Credit Builders Alliance an essential component of the financial ecosystem: their work is grounded in equity, powered by community, and focused on creating lasting pathways to economic mobility. At Experian, we are proud to stand alongside CBA as a partner in expanding inclusive credit reporting, advancing responsible use of alternative data, and ensuring consumers have more control and visibility over their financial futures. The insights from our collaborative analysis make one thing clear: when people are given the chance to demonstrate their financial capabilities, they do. And together, we can make that chance available to millions more. If you’re interested in learning more about Credit Builders Alliance, their mission, and the powerful work they’re leading to expand financial opportunity, I encourage you to visit creditbuildersalliance.org. Whether you represent a nonprofit, a financial institution, or simply want to understand how credit-building strengthens communities, CBA offers resources, tools, and programs that make a meaningful difference. Together, we can continue to open doors, unlock potential, and bring financial power to all.

Recent developments in the pricing of credit solutions for the mortgage industry have raised concerns about rising costs negatively impacting financial institutions and ultimately home buyers. We understand why lenders and trade groups are frustrated and we share in the concern. The system is complex yet there are also blatant attempts by some to take advantage of that complexity by spreading misinformation that makes it difficult to understand the drivers of cost and their implications. Here are the facts: Fact #1: Experian is not increasing the price of its credit reports for mortgage. In fact, the price of an Experian credit report for mortgage in 2026 will be exactly the same compared to 2025. Any accusations that we are raising the price of our credit reports by 50% are simply false. Fact #2: We made a marginal adjustment to the price of our data being used for processing scores in 2026. This reflects increasing complexity in consumer support, continued investments in data security, data accuracy, and regulatory compliance. This includes efforts to include more modern data sources, such as rent, utilities, buy now, pay later, short-term loans and cashflow advancements, among other sources, to more accurately reflect a consumer’s history and use of emerging financial utilities. Fact #3: National credit bureaus do not determine the price of tri-merge credit reports. The cost of these reports are based on a combination of inputs priced independently by multiple parties. Credit bureaus – Experian being one – make up only a portion of that equation. Tri-merge providers contract directly with originators, that pricing reflects our data usage/services, score algorithm costs and fees for services the reseller themselves provide.  Sometimes those combined costs are reflected as “credit reports”, which is at best an oversimplification, at worst a misrepresentation. Experian is committed to transparency in our pricing.  Fact #4: In October, FICO increased its royalty fees for its credit score from $4.95 to $10, an increase of approximately $5 per borrower, essentially doubling the cost of the FICO credit score in tri-merge credit reports. FICO also introduced their direct license program, which introduces unnecessary technological, operational and regulatory complexity for lenders and other market participants (including Experian), placing an even greater financial burden on the industry and inevitably, consumers. Mortgage decisions and credit scores are only as impactful and informed as the data that powers them. And simply put, scores do not exist without credit data powered by the credit bureaus. Credit reporting agencies like Experian operate under rigorous regulatory oversight, unlike score providers like FICO, because the accuracy, security, and fairness of the data we power is critical to the health of the U.S. financial system. Our costs reflect that responsibility, and the continued investments we are making to ensure data accuracy, security, and regulatory compliance to drive value for lenders and consumers alike. We share in the overall goal of making homeownership more accessible and affordable, but that can only happen through pricing transparency and collaboration, not deception and rhetoric. I’ve been in this industry for more than two decades, and I believe our industry only moves forward when it moves together. It’s time we focus on fairness and innovation to make meaningful progress toward a more efficient, inclusive, and sustainable mortgage ecosystem that brings financial power to all.

Experian is evolving — and it’s not just a shift in how we show up to consumers, it’s a transformation in how we think about our role in people’s lives. We’re entering a new era, and I want to share what that means for us and the millions of consumers we serve. For years, we’ve been known as a credit bureau. And while that legacy is something to be proud of, it’s only part of our story. Today, we are so much more. Experian delivers a robust consumer financial platform that empowers people to take control of their financial lives and realize their financial dreams. Meet Experian, your BFF We’ve built tools that help people compare auto insurance[i], potentially lower their bills[ii], find the right credit cards, and make smarter financial decisions. But here’s the challenge: many consumers might not know the full extent of what we offer and how we can help them. That’s why we’re launching a bold new brand campaign that brings our mission of Financial Power to All™ to life in a different way. In a multi-dimensional campaign, actor Sam Richardson steps into the role of a consumer’s Big Financial Friend or “BFF,” a larger-than-life character who helps people navigate their financial journeys. With this new campaign – Experian’s first brand re-do since 2016 – we are bringing fresh creative and messaging to consumers to create more awareness about how Experian has their back and can help them throughout their financial lives. It’s important for consumers to have a knowledgeable financial partner they can rely on as they navigate their financial journeys, and we want to be their “BFF” no matter where they are on that journey. We know that many people are facing financial uncertainty right now, like rising costs, economic volatility, and growing anxiety about the future. That’s why our mission matters more than ever. Financial Power to All™ isn’t a tagline. It’s a commitment  that we will continue to build tools, share knowledge, and create access for everyone, no matter where they are in their financial journey. We have the data, the technology, and the people to make a real difference. This campaign is just the beginning. See our first commercial below: [i] Results will vary and some may not see savings. Average savings of $1,137 per year for customers who switched multiple policies and saved with Experian from Jan. 1, 2022 to Mar. 31, 2024. Savings based on customers’ self-reported prior premium. [ii] Results will vary. Not all subscriptions are eligible, savings are not guaranteed, and some may not see savings. Experian members for whom Experian canceled at least one subscription averaged $270/year of anticipated savings. Available with eligible paid memberships and requires connecting payment account(s) to Experian account.

April is Financial Literacy Month, but for college students, money is top of mind all year round. A national survey shows that almost 80% of students are experiencing a negative impact on their mental health because of financial stress. Those concerns lead 59% of them to consider dropping out of school. This underscores the importance of normalizing and modernizing conversations around money and credit. Experian is proud to lead the way through partnerships with HomeFree-USA’s Center for Financial Advancement®. In addition to creating the Credit Academy for college students, we hold the #IYKYK Pitch Competition (If You Know You Know), which gives students the opportunity to earn scholarships and address how to share their knowledge with their peers and communities. We asked some recent #IYKYK Pitch Competition scholars what they found to be the most surprising as they’re learning about credit and finances: Remi Ore, Fisk University Forty-two percent of people are credit invisible in the U.S. and that's interesting. Credit actually shapes their life and their future. They're expected to build a future on top of a system like this, and yet they're invisible to that system. How are they supposed to move forward from there? How are they supposed to get mortgages, own homes, get good jobs, and impact the community as well? That is one thing that was very surprising to me going through this journey. Sovit Lekhak, Fisk University Growing up I had a rough patch in my childhood where my family struggled with gambling addiction and financial problems. So, I was always scared of getting credit. I was scared of loans, and I was scared of paying them back. When I took Experian’s Credit Academy, I realized that getting credit is not always bad and it's actually even necessary just to build up that profile, and that reference for the future. I think that mindset switch has opened a whole new world to me. Ayo Oyeniyi, Talladega College It was surprising to hear that when you're done with a credit card, you don't have to destroy it. You shouldn't do that. That was shocking because typically when you're done with stuff, you throw it away. But that was surprising that you have to keep it, because destroying it would affect your credit mix. That would affect your credit score. Izu Mba, Talladega College The fact that essentially credit is good. Growing up, owing money was not good in any form. So that whole idea of being able to owe to own is such a beautiful concept for me that I learned. Lakayla Chapman, Bowie State University One thing that learned and found surprising was that credit is not always a bad thing. Growing up, my mom has been really in my ear about credit. The way she came at it was that credit is a bad thing, ‘Don't get loans, don't do this, don't do that.’ But I'm taking in the information that credit is not always bad. Credit can make you who you can be in the future. Aissata Sy, Bowie State University One of the shockers for me is when I learned that people our age, young adults, 18 to 24, a lot of them don't know how to check their credit score or know where to go (to find out). Having that tool is very important. You could just be freewheeling down here and not know what your score is, and then you go to buy your car, they check your score and it's like, ‘Oh.’ And you didn't know. So, checking that and keeping up with that is very, very important to know where you stand.

As a father to two young adults, I know how important it is to educate each other on financial health and the tools available to us to improve access and opportunity. I believe strongly in the transformative impact of financial empowerment, and so does Experian. Our mission of Financial Power to All™ inspires us to create products and opportunities that help individuals achieve their financial goals. Consumer debt is at an all-time high, according to the New York Federal Reserve which reported that total household debt increased by $93 billion in the fourth quarter of  2024 to $18.04 trillion. Debt can be a significant barrier to financial stability and success, limiting opportunities, creating stress, and hindering individuals from reaching their full potential. Recognizing these challenges, Experian is partnering with ForgiveCo, a Public Benefit Corporation (PBC), to manage the acquisition and cancellation of $5 million dollars in qualifying consumer debt for over 5,000 families in Louisiana, one of the poorest states in the United States. Having spent my childhood summers in Louisiana, I have personally seen the impact debt can have on families. Breaking down one of the barriers to financial empowerment is one of the reasons this program is so important to me.  As part of the program, we are excited to be teaming up with Louisiana State University (LSU) star athlete Flau’Jae Johnson to reach more consumers and make a bigger impact with this program, forgiving an additional $100K for every LSU women's basketball win during the college basketball tournament. A star athlete with NIL deals, she knows the importance of managing finances and has a passion for reaching young adults with financial empowerment messages. She has been involved in other programs with us and is a great partner. This is just one of many initiatives to help consumers and our commitment to financial empowerment extends beyond debt relief. We evolve our educational resources and products to better support the millions of members we serve, as well as 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. To learn more, visit our website or hear directly from Flau’Jae below. Related Posts

We are thrilled that for the sixth consecutive year, Experian has earned a score of 100 on the Human Rights Campaign Foundation’s (HRCF) 2025 Corporate Equality Index (CEI). This recognition underscores our commitment to LGBTQ+ workplace equality. We are honored to join the ranks of 765 U.S. businesses that have been awarded the HRCF’s Equality 100 Award, celebrating our leadership in fostering an inclusive workplace. Experian’s dedication to supporting the LGBTQ+ community is reflected in several key initiatives: Name Change Process: We have a process for transgender and non-binary consumers to update their names on credit reports, ensuring their identities are accurately represented. LGBTQ+ Allyship 101 Training: This new training program is available to all Experian employees, promoting allyship and understanding within our workforce. Pride ERG Parenting Committee: Launched to support parents, grandparents and guardians of LGBTQ+ individuals, this committee provides valuable resources and community. Transgender Resource Guide: This guide supports employees who are transitioning at work, offering education and resources for colleagues and managers. Partnerships: We collaborate with organizations such as Out & Equal, GenderCool, The Trevor Project and Born This Way Foundation’s Channel Kindness to provide financial health, mental health and other resources to empower both our internal and external communities. At Experian, we are proud to be part of this movement towards greater equality and inclusion. We remain dedicated to fostering a workplace where every employee feels respected, valued and empowered to bring their authentic selves to work. Learn more about how we drive social impact in English, Portuguese and Spanish. Related Posts

Achieving Top Workplace recognition for 12 consecutive years is no small feat, yet Experian North America has done just that. Named a Top Workplace by the Orange County Register once again, this milestone reflects not just policies or benefits but what truly makes Experian exceptional: our people. As Hiq Lee, Chief People Officer at Experian North America, notes, this honor is a testament to the remarkable contributions of our team. Experian’s employees shape an environment where innovation, inclusivity, and purpose thrive. More Than Work What sets Experian apart is our engagement with the world and community. Through initiatives like the Experian Volunteer Leadership Network and partnerships with organizations such as the Octane Foundation for Innovation and the Hispanic Chamber of Commerce of Orange County Education Foundation, our impact extends beyond the workplace. In 2024, we earned additional recognitions, including being named one of the World’s Best Workplaces™ by Fortune and Great Place to Work®. We were also recognized as one of the Best Workplaces for Parents, Millennials, and in Technology. The Secret to Success Our success lies in focusing on people. Experian is a place where careers are built, ideas are encouraged, and employees feel valued. Initiatives such as, Employee Resource Groups foster belonging, Mental Health First Aiders provide support, and technology hackathons inspire creativity. Innovation at the Core Innovation continues to drive our success. By leveraging technologies like artificial intelligence and machine learning, we are redefining decision-making and fraud prevention. This commitment to innovation empowers businesses and consumers worldwide, aligning with our mission to promote financial inclusivity. Looking Ahead For Experian, being a Top Workplace for more than a decade isn’t a finish line—it’s a springboard. With an ongoing commitment to our employees and communities, we continue to evolve, creating better experiences for our team, clients, and the world. Related Posts

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.