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Experian


Self Description

June 2005: "With approximately 30 years of experience and more than 30,000 clients in North America, Experian combines our unsurpassed data with the knowledge, expertise and creativity to help companies build successful relationships with their customers. Experian also provides U.S. consumers with the tools and services to help them understand, manage and protect their personal credit profiles."

http://www.experian.com/corporate/index.html

June 2005:

  • Experian employs more than 4,500 people in North America.
  • Experian North America's annual sales are more than $1.3 billion.
  • Experian's North America databases contain more than 65 terabytes (65 trillion bytes) of data.
  • Experian maintains credit information on approximately 215 million U.S. consumers and more than 15 million U.S. businesses.
  • Experian maintains demographic information on approximately 215 million consumers in 110 million living units across the United States.
  • Experian provides address information for more than 20 billion promotional mail pieces to more than 100 million households every year.
  • Experian is a subsidiary of GUS plc, a UK-based holding company that includes retail, property investment, finance and information services businesses.
http://www.experian.com/corporate/factsheet.html

Third-Party Descriptions

May 2011: "One hiccup that’s worth noting here, though. While I was able to get my free Equifax and TransUnion credit reports this week through annualcreditreport.com, Experian would not give it to me. Instead, it served up a form with my Social Security number and other personal information that it wanted me to put in the mail before it would hand over my credit report. Um, no thanks. An Experian spokeswoman was unable to explain why this had happened."

http://www.nytimes.com/2011/05/07/your-money/identity-theft/07money.html

October 2008: "In 2005, Experian, and then rivals Equifax and TransUnion, started selling lists of these consumers to other banks and brokers, whose loan officers would then contact the customer and compete for the loan."

http://www.nytimes.com/2008/10/22/business/22target.html

December 2006: It is not just criminals who are profiting from identity theft; financial institutions are making money, too. Fear of identity theft has helped give rise to a nearly billion-dollar business in credit-monitoring services sold by the major credit bureaus — companies like Equifax, Experian and TransUnion — as well as direct marketers and banks.

http://www.nytimes.com/2006/12/12/business/12credit.html

July 2006: The three suits charge that, under the federal Fair Credit Reporting Act, the national bureaus -- Equifax, Experian and TransUnion -- are required to follow 'reasonable procedures to assume maximum possible accuracy of information in consumer (credit) reports.'

http://www.freep.com/apps/pbcs.dll/article?AID=/20060709/BUSINESS04/607090511/1017/BUSINESS

July 2006: A relatively new addition to the credit scoring universe is the VantageScore -- introduced as a joint effort by Equifax, Experian and TransUnion -- which rivals the FICO score but so far is being used by very few lenders. The VantageScore, which ranges from 500 to 990 and includes A to F ratings as well, is being promoted as paying particular attention to 'thin' credit files.

http://www.bankrate.com/brm/news/debt/debtmanageguide/no-credit1.asp

August 2005: Last week, Experian, one of the three major credit-reporting agencies, agreed to pay $950,000 to settle charges that it deceived consumers into signing up for its credit-monitoring service by offering free credit reports. The FTC said Experian's Internet sites, www.freecreditreport.com and www.consumerinfo.com, failed to adequately disclose that consumers who ordered their credit reports would automatically be charged $79.95.

http://www.usatoday.com/money/perfi/columnist/block/2005-08-22-credit-report_x.htm

Relationships

RoleNameTypeLast Updated
Member of (past or present) Consumer Data Industry Association (CDIA) Organization Nov 1, 2006
Status/Name Change from TRW Incorporated Organization Jul 27, 2006

Articles and Resources

33 Articles and Resources. Go to:  [Next 13]

Date Fairness.com Resource Read it at:
May 06, 2011 ID Theft Tool That Sony Isn’t Using

QUOTE: A surveillance service is reactive. By the time you get an alert from one, thieves may have already done a lot of damage. A security freeze, also known as a credit freeze, is proactive.

New York Times
May 27, 2010 With credit scores, it should be equal access for all

QUOTE: Why in the world would Congress provide some consumers with free access to credit scores, but not others? This could happen under a measure being considered by lawmakers that would grant free access to people whose credit scores were used to deny them credit or a job.

Washington Post
Jan 01, 2010 Consumer Confidential

QUOTE: Do you know when you're being hustled by bankers, mortgage brokers, and investment peddlers? Check out our tip sheet on financial pros' everyday deceptions—and how to protect yourself against them

AARP Bulletin
Jul 06, 2009 When a parent steals your identity

QUOTE: This crime is not as rare as you might think. And the betrayal (and damage) goes beyond the financial. Here's how it can happen -- and how to tell if it already has.

MSN (Microsoft Network)
Oct 22, 2008 Banks Mine Data and Pitch to Troubled Borrowers

QUOTE: Singling out even struggling American consumers like Ms. Jerez is one of the overlooked causes of the debt boom and the resulting crisis, which threatens to choke the global economy....banks, credit card issuers and mortgage brokers, who fiercely compete to find untapped customers — even those who would normally have trouble qualifying for the credit they were being pitched.

New York Times
May 31, 2008 An Alarm System For Inaccurate Credit Scores (The Nation's Housing)

QUOTE: If you really deserve a 720 FICO credit score but you have been pulled into the low 600s because of incorrect or missing information in your national credit-bureau files, you ought to know so you have the opportunity to fix the problems.

Washington Post
May 25, 2008 Checking Out Roommates (Starting Out)

QUOTE: When looking for a roommate to share a house or apartment, twentysomethings are often too trusting of people they meet through, say, craigslist.org or apartment-finder Web sites such as roommates.com and roommateclick.com. Instead, think like a conscientious landlord and consider the legal responsibility of sharing a home.

Wall Street Journal, The (WSJ)
Mar 06, 2008 Like Stealing Credit From A Baby

QUOTE: Child identity theft is especially pernicious because it can go undetected for years, unearthed only when the victim goes for a driver's license or a student loan, only to be turned down. By then the crime trail is cold, and the thief has likely long abandoned the accounts after maxing them out.

Forbes
May 16, 2007 Detecting synthetic identity fraud

QUOTE: If someone uses your Social Security number on a credit application, you might not find out about it...You could be a victim of synthetic identity fraud -- a rapidly growing type of ID fraud. Thieves literally create new identites either by combining real and fake identifying information to establish new accounts with fictional identities or create the new identity from totally fake information.

Bankrate.com
May 02, 2007 Loan application makes you a 'trigger lead'

QUOTE: The lender's request for your credit report "triggers" an alert informing the credit bureaus that you are...looking to purchase a home or refinance your loan. The credit bureaus sell these trigger leads to lenders and brokers, presenting these industry subscribers with a list of candidates who are looking for a loan and meet their ideal criteria for loan products. Many consumers complain it's a violation of their privacy.

Bankrate.com
Apr 07, 2007 Credit Scores for Sale

QUOTE: federal and state authorities fear that some borrowers are turning to a fast-growing business on the Internet: companies that claim to boost credit scores by transplanting the credit DNA of people with excellent payment histories into the credit files of people with sub-par histories, ostensibly without breaking any law.

Washington Post
Mar 24, 2007 FTC Says It Can't Protect Mortgage-Seekers From 'Trigger Lists'

QUOTE: [credit bureaus] know you're interested in getting a mortgage, and they know that lenders will pay plenty -- thousands of dollars a month in some cases -- to find out. Critics argue that trigger lists open the door to bait-and-switch schemes, where lenders dangle falsely discounted rates to pull in unsuspecting customers who have just applied to local brokers and have received higher quotes.

Washington Post
Mar 01, 2007 Scam Alert: Grave Robbery: Even the dead can be victims of identity theft.

QUOTE: Scammers troll through obituaries for names and addresses. Then they buy Social Security numbers and other personal data—such as credit histories—of the recently departed for as little as $15 on the Internet. .... In such cases, surviving family members are unlikely to be held liable for the debt, but they may pay a price—in time and money—to unsnarl the credit and bank records of their relatives.

AARP
Jan 03, 2007 7 steps to protect children from identity theft

QUOTE: A common red flag that something is amiss is unexpected mail such as collection letters or letters regarding financial accounts. Watch for credit reports in your child's name even though the child has never applied for credit...If you haven't had any problems yet, these seven steps will help protect your child from becoming a victim.

Bankrate.com
Dec 12, 2006 Protectors, Too, Gather Profits From ID Theft

QUOTE: Credit monitoring has quickly gained traction with consumers through aggressive advertising that often promotes its value in protecting against identity theft. But its abilities are far more limited than is commonly perceived.

New York Times
Sep 11, 2006 5 ways to monitor your credit reports

QUOTE: Identity theft can cost you thousands of dollars if it goes unnoticed, not to mention dozens of hours cleaning up your credit report and clearing debts owed. To save time and money, it makes good sense to guard -- or at least watch -- your credit reports.

Bankrate.com
Aug 23, 2006 ID Security Company Finds Snags in Fraud Alert System

QUOTE: Consumer advocates have long complained that the fraud alert system mandated by Congress in 2003 as a consumer’s first line of defense against identity theft does not always work properly...The implication, Ms. Fergerson said, is that “you’ve got millions of people who think that they have fraud protection in place when actually they don’t.”

New York Times
Aug 01, 2006 Favorite tricks of the car-dealer trade

QUOTE: Buying a new car can feel like walking through a field of land mines. With three major pits of profits for the dealership -- the new car price, the trade-in and the financing -- it's easy to walk right into a money trap.

Bankrate.com
Jul 01, 2006 Suits Challenge Credit Bureaus

QUOTE: In a case with potentially far-reaching significance for mortgage applicants nationwide, a South Carolina consumer has filed class-action lawsuits against the three national credit bureaus, charging that they allow a practice that lowers the credit scores of millions of people.

Washington Post
Jul 01, 2006 Life without credit: tough and expensive

QUOTE: as many as 60 million people -- close to one-fifth of the population -- will have trouble accessing traditional credit...the biggest cost is financial. Life costs more when you can't access credit.

Bankrate.com

33 Articles and Resources. Go to:  [Next 13]