Equifax Update: Continuing to Meet Customer Needs
We are all facing unprecedented times during this COVID-19 crisis. As we continue to battle this pandemic, our focus at Equifax steadfastly remains on the health of our employees and the safety of our community, while continuing strong operational delivery for our customers and partners. This global situation is evolving quickly, and we continue to follow guidance from the World Health Organization and the Centers for Disease Control & Prevention.
Since my last note, we have expanded our COVID-19 measures in line with our Business Continuity Plans to include increased travel and visitor restrictions and additional rigorous deep-cleaning routines. While our offices remain open in all areas where local governments permit, we have implemented a work from home protocol that encourages eligible employees to work remotely. Our business continuity plans have enabled us to continue to deliver for our customers. This Work at Home program is a critical step that we believe is necessary to protect our workforce. As Equifax is a key partner for many of you, I want to assure you that we stand ready to meet your needs. While our associates miss meeting with you face-to-face, we are all available via virtual meetings to help you navigate this difficult time. In addition, please be assured that maintaining the security and privacy of your data is non-negotiable for us. All employees who work remotely do so via a secure network connection on approved and secure devices, subject to the same privacy and security policies as our office environments.
We believe that every part of society – individuals as well as the public and private sector – needs to work together on creative solutions that ease the financial burden on consumers and businesses this pandemic may cause. While we are taking several steps today, we are exploring additional solutions that could help consumers, businesses and the overall economy. Equifax is actively engaged with the federal government, the Consumer Data Industry Association (CDIA) and others to minimize negative impacts on consumers’ credit ratings caused by COVID-19 hardships. The CDIA has issued guidance on how our customers can report these cases. In addition, Equifax is offering support for consumers looking to minimize the pandemic’s potential impacts on their credit through our website. There, consumers can take advantage of ongoing educational support regarding how credit reports and scores work. For small businesses, we are partnering with policy makers and others to support Main Street American small businesses around the country as they navigate this situation.
We’ve heard from many of you already and have developed these Frequently Asked Questions to address the most pressing topics. If you have additional questions, please don’t hesitate to contact your Equifax manager or submit your inquiry here.
Now more than ever, as we continue to navigate these uncertain times, our workforce is very well positioned to execute upon our purpose of helping people live their financial best – and we are committed to being there when our customers and consumers need us most. Please reach out to your Equifax commercial team if you have any questions or if we can help in any way. Or, feel free to reach out to me directly by replying to this note. We value our partnership with you and remain committed to supporting you and your customers during this challenging time.
Sending you, your teams, and your families our very best.
Mark W. Begor
Chief Executive Officer, Equifax
Equifax Committed To Helping Consumers Impacted By COVID-19 (Coronavirus)
ATLANTA, March 24, 2020 /PRNewswire/ — Equifax is continuing to closely monitor the rapidly evolving COVID-19 (Coronavirus) situation and its significant financial impact on consumers and businesses around the globe. All businesses — particularly small and medium-sized businesses — are experiencing unprecedented disruption to supply and demand. As a result, the US and global economies face significant economic contraction and a rapid increase in unemployment. As a leader in credit reporting, Equifax and its affiliates support millions of consumers and thousands of businesses across 24 countries. With this global perspective, the company sees and hears the hardships that people are experiencing every day. That’s why Equifax is actively working with creditors and lenders to minimize the effects this virus may have on consumers’ credit standing.
“These are uncharted waters for everyone around the world,” said Mark W. Begor, Equifax CEO. “That means every part of society – individuals as well as the public and private sector – needs to work together on creative solutions that ease the financial burden caused by this pandemic. While we are taking several steps today, we are also bringing our technology and data resources to bear as we explore additional solutions that could help consumers and businesses manage the impact of the Coronavirus crisis on their credit reports.”
The company is working with policy makers around the globe, including the US Congress and the Consumer Financial Protection Bureau (CFPB), to implement actions that support consumers and businesses during this challenging crisis. In the US, Equifax is working with the Consumer Data Industry Association (CDIA) to mitigate the negative impact of the pandemic on consumers’ credit files. The CDIA is providing important information to creditors and lenders regarding how they should report information during a natural disaster or for accounts placed in forbearance as a result of a natural or declared disaster.
Consumers and businesses who are, or may be, impacted by COVID-19 are encouraged to contact their lenders and creditors directly to discuss their options. Equifax is engaged with many lenders, telecom and utility providers who are offering a variety of options to help people through forbearance and modified payment plans.
Additional support is available for consumers looking to minimize potential negative impacts of the pandemic on their credit through the company’s website. There, people can take advantage of the ongoing educational support Equifax provides about how credit reports and scores work.
Equifax is following guidance from the World Health Organization, the Centers for Disease Control and local authorities to manage during this crisis. The company has activated its business continuity plans to ensure continuous operations for global customers and consumers. In the meantime, more than 11,000 Equifax employees around the globe are focused on continuing to serve consumers and customers.
Equifax will continue playing its essential role in the global economy by providing stability and support for consumers and businesses during these extraordinary economic challenges.
ABOUT EQUIFAX INC.
Equifax is a global data, analytics, and technology company and believes knowledge drives progress. The Company blends unique data, analytics, and technology with a passion for serving customers globally, to create insights that power decisions to move people forward. Headquartered in Atlanta, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. It is a member of Standard & Poor’s (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 11,000 employees worldwide. For more information, visit Equifax.com and follow the company’s news on Twitter and LinkedIn.