TransUnion - TRU STOCK NEWS

TransUnion (NYSE: TRU) has announced that its President and CEO, Chris Cartwright, will be presenting at the Barclays Global Financial Services Conference on Tuesday, September 10, 2024. The presentation is scheduled to begin at 10:15 a.m. CT (11:15 a.m. ET).

Investors and interested parties can access a live webcast of the presentation through TransUnion's Investor Relations website at http://www.transunion.com/tru. For those unable to attend the live event, a replay will be made available on the company's website following the conclusion of the presentation.

This appearance at a major financial services conference suggests TransUnion's commitment to engaging with investors and sharing insights about the company's performance and strategies.

TransUnion (NYSE: TRU) has received the 2024 Impact Award for Best Authentication Innovation from Datos Insights. The award, part of the annual Fraud & AML Impact Awards program, recognizes innovations in financial crime solutions. TransUnion TruValidate™ was honored for its ability to combat identity fraud by examining credit behavior and identity elements shared among consumers. This dual approach helps reduce false positives and identify synthetic identities more accurately. The TruValidate suite integrates identity proofing, risk-based authentication, and fraud analytics, offering a comprehensive consumer profile by linking diverse data types. It serves industries like Banking, FinTech, and Gaming, providing effective, personalized, and flexible solutions.

Bloom Credit has launched Bloom+, a white-labeled, no-code API service that allows banks and credit unions to help customers build credit profiles using alternative data. Inspire Federal Credit Union is the first client, with TransUnion as the initial credit bureau collaborator. Bloom+ enables consumers to report bill payment history from their primary checking accounts to credit bureaus, potentially benefiting the 45 million Americans who are 'credit invisible'.

The service aims to bridge the gap between customers' payment histories and credit bureaus, allowing lenders to use alternative data like utility payments as a measure of creditworthiness. This innovation follows Bloom Credit's recent accolades, including Best of Show at FinovateSpring and the 2024 Data Innovation Award from Tearsheet.

TransUnion's latest Insurance Personal Lines Trends and Perspectives Report reveals auto insurance shopping volume reached a new record in Q2 2024, up 7% YoY. Despite this trend, the Consumer Price Index for Motor Vehicle Insurance saw a 0.2% decrease between April and May 2024, potentially signaling rate adequacy for insurers.

The report highlights the importance of leveraging court records alongside Motor Vehicle Records (MVR) for assessing driving history. TransUnion estimates that declining traffic violations since 2020 have cost the auto insurance industry about $200 million annually in lost premium capture. The study also found that 51% of accidents in 2022 involved drivers with prior violations, up from 42% in 2019, emphasizing the increased predictive power of violation history for insurance losses.

TransUnion (NYSE: TRU) has announced a quarterly cash dividend for the second quarter of 2024. The company's Board of Directors has declared a dividend of $0.105 per share, which will be payable on September 9, 2024. Shareholders of record as of August 23, 2024, will be eligible to receive this dividend. This announcement demonstrates TransUnion's commitment to returning value to its shareholders through regular dividend payments.

TransUnion's Q2 2024 Credit Industry Insights Report reveals that consumers continue to engage with credit products amid anticipation of future Fed interest rate cuts. Key findings include:

1. Unsecured personal loan balances grew 6% YoY, with originations up for the first time in five quarters.

2. Credit card balances increased 4.8% YoY, led by subprime growth of 12.3%.

3. Auto loan originations decreased 0.4% YoY, except for super prime, which grew 10.3%.

4. Mortgage originations saw YoY growth for the first time since 2021, up 2% in Q1 2024.

The report highlights a divergence in credit usage across risk tiers, with prime and below consumers showing higher card balances and utilization, while super prime consumers are seeing more originations in areas like credit cards and auto loans.

TransUnion (NYSE: TRU) has partnered with Snowflake to launch TruIQ Data Enrichment on Snowflake Marketplace. This collaboration provides joint customers with unlimited, on-demand access to pseudonymized TransUnion credit data in the Snowflake AI Data Cloud. The solution addresses key challenges in data management and analytics, offering:

• Optimized identity resolution
• Control over sensitive data
• Minimum data movement

TruIQ Data Enrichment, derived from TransUnion's OneTru platform, enables faster access to credit data and the ability to link it with first and third-party datasets. This partnership aims to enhance data accessibility, security, and analytical capabilities for organizations using cloud-native technologies.

TransUnion's latest U.S. Betting Report reveals Millennials dominate high-value online betting, accounting for 57% of those spending $500+ monthly. The survey of 3,000 adults shows bettors generally have higher incomes and better credit scores than non-bettors. However, high-value bettors also show signs of financial distress, with higher rates of bill delinquency and collection agency contacts.

Key findings include:

• 20% of online bettors reported significant income increases vs. 4% of non-bettors
• 55% of online bettors have good/excellent credit scores vs. 50% of non-bettors
• 44% of high-value online bettors expect bill payment difficulties vs. 24% of non-bettors

The report suggests increased regulatory scrutiny may lead to enhanced consumer protection measures in the U.S. betting industry.

TransUnion's new study reveals a resurgence in auto leasing, with electric vehicles (EVs) playing a important role. Key findings include:

1. Leasing volumes increased from 539K in Q1 2023 to 714K in Q1 2024, approaching pre-pandemic levels.

2. EV leases accounted for 16.5% of all leases in Q2 2024, up from 11% in Q2 2022.

3. Nearly 50% of all EV originations in Q2 2024 were leases, more than double the percentage three years prior.

4. Factors driving EV leasing growth include increased inventory, dealer incentives, IRA tax credits, and more affordable options.

5. However, first-time leasees decreased to 30% in 2024, down from 33% in 2019, presenting a growth opportunity for dealers.