Equifax First to Launch Online Credit Report Translated in Español

Rhea-AI Summary

Equifax (NYSE: EFX) has launched a free, translated credit report in Spanish, catering to over 62 million Spanish-speaking consumers in the U.S. This initiative marks Equifax as the first credit bureau to provide online and mailed Spanish credit reports. The move aligns with Equifax's commitment to advancing financial inclusion and enhancing consumer understanding of credit. Equifax aims to empower historically underserved communities, ensuring individuals can access their credit profiles to make informed financial decisions.

Positive

• Equifax introduces a free Spanish-translated credit report, enhancing financial inclusion for Spanish-speaking consumers.
• First credit bureau to provide online and mailed Spanish credit reports, setting a new standard in the industry.
• Aims to empower underserved communities by improving access to credit information.

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• None.

ATLANTA, Sept. 13, 2021 /PRNewswire/ -- Today, Equifax  (NYSE: EFX) is introducing a free, translated credit report in Spanish to serve the more than 62 million Spanish-speaking consumers in the U.S. Equifax is the first and only credit bureau to provide a Spanish translated credit report online and by mail.

Equifax is the first and only credit bureau to provide a Spanish translated credit report online and by mail.

The introduction of a translated Spanish credit report aligns directly with the ongoing Equifax commitment to advance financial inclusion and help all consumers access and better understand their credit profiles.

"By providing access to credit reports in their preferred language, we can help millions of Spanish-speakers in the U.S. better understand their credit profiles and enhance their financial well-being," said Beverly Anderson, President Global Consumer Solutions at Equifax.

According to the 2020 U.S. Census, the Hispanic or Latino population grew by 23% since 2010, and it's the second-largest racial or ethnic group. The U.S. has the second largest population of Spanish speakers in the world, after Mexico.

"We recognize there is a clear demand for broader availability of information in Spanish, and we created this Spanish-language report to meet the growing demands. We want to expand access to and understanding of credit, especially to vulnerable and historically underserved communities, so that they are empowered to move forward in all aspects of their financial journey," added Anderson.

A healthy credit profile is vital to ensuring continued upward mobility, especially for life's pivotal moments: ability to rent an apartment, purchase a home or car, obtain a loan, and even being hired for certain jobs.

"An individual's credit report is an integral part of their overall financial health, and this is another way we can help support the growth and financial well-being for this growing population," said Anderson.

Equifax is also committed to working with members of Congress to broaden access to credit and increase financial inclusion.

Congressman Al Green, Chair of the Subcommittee on Oversight and Investigations, stated, "It is important for people to have access to as many financial tools as possible so they can make financially sound decisions. Without such accessibility, people are more likely to forgo some opportunities and ownership of certain goods. I am pleased to know the availability of resources across the country for Spanish-speakers is growing and hope it continues to do so."

And Congressional Hispanic Caucus Chair Raul Ruiz, M.D., said, "From renting an apartment to obtaining a loan, a healthy credit profile is important to the upward mobility of families across the country. Spanish-speaking families must have the resources they need to not only maintain a healthy credit profile, but also to fully understand how good credit can help them achieve their financial goals."

Congresswoman Nanette Diaz Barragán, who serves as Vice Chair of the Congressional Hispanic Caucus, added, "It is critical that consumers understand their credit profiles because they impact so many aspects of their everyday lives. I am very encouraged to see that Equifax will now provide free Spanish language credit reports. Spanish-speaking constituents in my district, and throughout the country, will benefit from this new service and will be able to make more informed financial decisions."

Consumers can request a free, Spanish version of their credit report via www.equifax.com/micredito or by contacting customer service (888-Equifax, option 8 for Spanish), and if desired, they can request it every seven calendar days. Consumers will continue to have access to Equifax call center agents that can support multiple languages through our bilingual agents or by engaging a third party language service.

Equifax is on a quest to be the most consumer-friendly CRA, and this is a big step forward as we enhance and improve the overall consumer experience at every touchpoint, while also fulfilling our purpose to help people live their financial best.

ABOUT EQUIFAX INC.

At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 12,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com

FOR MORE INFORMATION
Angeles Quinones for Equifax
mediainquiries@equifax.com

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SOURCE Equifax Inc.

FAQ

What is Equifax's new product for Spanish-speaking consumers?

Equifax has launched a free, translated credit report in Spanish for Spanish-speaking consumers in the U.S.

How does Equifax's Spanish credit report benefit consumers?

It helps over 62 million Spanish-speaking consumers understand their credit profiles and enhances their financial well-being.

When was the Spanish credit report launched by Equifax?

The Spanish credit report was launched on September 13, 2021.

Is the Spanish credit report from Equifax available online?

Yes, consumers can access the Spanish credit report online and request it via mail.

How can consumers request their Spanish credit report from Equifax?

Consumers can request it at www.equifax.com/micredito or by calling customer service.