TransUnion - TRU STOCK NEWS

TransUnion (NYSE: TRU) announces it will release its second-quarter financial results for the period ending June 30, 2021, on July 27, 2021, at 6:00 a.m. Central Time. The company will host a conference call at 8:30 a.m. CT the same day to discuss these results. Both the press release and a live webcast of the call will be accessible via the TransUnion Investor Relations website. This release is part of TransUnion's ongoing efforts to provide insights and create economic opportunity across its global operations.

TransUnion released a study indicating significant consumer engagement in financial hardship programs during the COVID-19 pandemic, with around 7% of credit product accounts enrolled. Notably, 70% of non-prime and 80% of prime consumers continued payment during hardship. The report also highlights a drop in hardship accounts from May 2020 to May 2021, showcasing improved financial stability. Early exiters from these programs exhibited lower risk profiles, with roughly 80% remaining out of hardship after nine months, suggesting effective utilization of these programs.

TransUnion’s Consumer Pulse study reveals a decline in the percentage of U.S. consumers reporting negative financial impacts from COVID-19, now at 32%, down from 38%. Conducted with over 3,000 respondents, the survey indicates that 83% of recent graduates are optimistic about their future—significantly higher than the 64% overall. Furthermore, 54% of these graduates are more open to using credit post-pandemic. Vaccination status correlates with optimism, as 67% of fully vaccinated individuals express positive outlooks. The study highlights that young generations may lead economic recovery through increased spending.

TransUnion has released a study indicating a significant rise in Account Takeover (ATO) fraud within government services, as citizens increasingly interact online. The Public Sector Fraud Study, in collaboration with the Ponemon Institute, surveyed nearly 600 officials, revealing that 53% noted ATO incidents increased over the past two years. Despite this threat, only 41% prioritize prevention measures. Mobile devices are identified as primary fraud vectors, with 57% of government website visits coming from mobile users. The report advocates for greater investment in AI and identity verification to enhance security.

TransUnion reports a significant rise in digital fraud attempts in the financial services sector. Between September 2020 and May 2021, suspected fraud attempts globally surged by 149% in financial services and 109% in the U.S. Overall, digital fraud attempts increased by 24% globally during the same period. The research highlights the urgency for financial institutions to enhance fraud prevention measures as digital transactions grow, particularly post-COVID-19. True identity theft remains the most prevalent type of fraud in financial services.

TransUnion (NYSE: TRU) announced that CFO Todd Cello and Chief Global Solutions Officer Tim Martin will present at the Baird Global Consumer, Technology and Services Conference on June 9, 2021, starting at 11:50 a.m. CST. A live webcast will be available on the TransUnion Investor Relations website, with a replay posted afterward. TransUnion is a global information company that provides insights for secure transactions in the marketplace, emphasizing trust and empowerment across more than 30 countries.

TransUnion (NYSE: TRU) will present at the William Blair Growth Stock Conference on June 3, 2021, at 10:00 a.m. CST. Chris Cartwright, President and CEO, and Todd Cello, CFO, will represent the company. The presentation will be accessible via a live webcast on the TransUnion Investor Relations website, with a replay available afterward. TransUnion provides insights that foster trust in the economy, operating in over 30 countries and serving hundreds of millions globally. Their mission emphasizes 'Information for Good.'

TransUnion has announced a donation of $1 million to aid COVID-19 relief efforts in India, distributing funds equally to Direct Relief and United Way Mumbai. This contribution will facilitate the procurement and delivery of critical medical supplies, including oxygen concentrators. The company is also providing health support for its employees, including online medical consultations and the airlifting of oxygen concentrators to major cities. TransUnion's proactive measures align with its commitment to public health amidst the ongoing pandemic.

The Q1 2021 TransUnion Industry Insights Report reveals resilience in the consumer credit market one year post-COVID-19. Key findings include a decrease in serious delinquency rates—credit cards at 1.25%, mortgages at 0.81%—and an increase in loan originations, indicating recovery. Personal loan balances declined, though serious delinquencies fell to 2.66%. Mortgage originations peaked at over 4 million in Q4 2020, highlighting strong demand. The report forecasts further growth as consumer sentiment improves and economic conditions stabilize.