Welcome to our dedicated page for Equifax news (Ticker: EFX), a resource for investors and traders seeking the latest updates and insights on Equifax stock.
Equifax reports news on its work as a global data, analytics, and technology company serving financial institutions, companies, employers, and government agencies. Recurring updates cover consumer credit data, income and employment verification through The Work Number, portfolio analytics for lenders, and consumer financial health measures such as the Market Pulse Index.
Company announcements also address quarterly earnings, dividend declarations, investor conference participation, cybersecurity reporting, cloud technology, and EFX.AI capabilities. Product news often centers on combining credit, employment, income, and trended data to support lending decisions and customer lifecycle analytics.
Equifax Canada reported a 0.5% decline in average non-mortgage debt for Q1 2020, marking the first drop in over a decade, attributed to reduced consumer spending amid COVID-19 shutdowns. Average debt per person reached $73,030, up 2.4% year-over-year, while total debt climbed 4.3% to $1.989 trillion. Mortgage balances rose 5.7%, despite a significant drop in new credit inquiries. The 90+ day delinquency rate for non-mortgage debt increased to 1.22%. The report highlights a potential rise in delinquencies and bankruptcies later in the year as economic impacts continue.
Equifax Canada has launched a COVID + Credit Resource Centre to assist consumers in understanding the financial implications of the pandemic on their credit. This initiative offers guidance on managing finances and mitigating potential negative effects on credit scores due to deferred payments. Consumers can access articles addressing deferred payments, factors impacting credit scores, and accurate reporting practices. The company emphasizes the importance of regularly checking credit reports and is committed to fair credit reporting amidst ongoing challenges.