Core Insights - Younger Canadians are increasingly considering switching lenders for better credit support, with a significant number of mortgage holders also exploring refinancing options [1][4][8] Consumer Behavior and Preferences - 41% of mortgage holders have considered switching lenders in the past year, with 38% receiving refinancing offers from other institutions [4] - 62% of younger mortgage holders plan to explore refinancing at renewal time, compared to 52% of those aged 35 and older [4] - 57% of Canadians under 35 would switch financial institutions for better credit monitoring, versus 38% of those aged 35+ [8] Generational and Newcomer Insights - 72% of Canadians aged 35+ feel they have sufficient access to credit, while only 62% of those under 35 agree [5] - 84% of newcomers to Canada consider access to credit important for achieving their goals, compared to 78% of Canadian-born respondents [5] Credit Protection and Identity Security - 95% of surveyed Canadians believe protecting their credit and identity is very important [6][8] - Regular credit monitoring and strong digital security practices are recommended for safeguarding financial goals [6] Gaps in Financial Support - 19% of Canadians feel they lack sufficient access to necessary credit and lending products [7] - Only 47% believe their current bank or lender is helping them achieve financial goals, and just over half trust their lender to improve their credit over time [7] Equifax's Role and Solutions - Equifax offers various solutions to assist Canadians in managing their credit and financial decisions, including consumer education and identity protection services [9] - The company emphasizes the importance of data and analytics in helping consumers and lenders make informed decisions [11]

Core Insights - The percentage of consumers whose rent payments are reported to credit agencies increased to 13% in 2025 from 11% in 2024, indicating a growing trend in rent payment reporting [1] - The Federal Housing Finance Agency (FHFA) has implemented a policy allowing Fannie Mae and Freddie Mac to accept VantageScore 4.0 credit scores, which includes rent payment history, potentially increasing access to mortgages for first-time home buyers [2] Consumer Participation - The majority of renters (57%) are more likely to rent from property managers who report payments, and nearly 80% are more likely to pay on time when their payments are reported to credit agencies [5] - The number of consumers reporting their rent payments is rising, but there is a noted decrease in property managers participating in rent payment reporting, dropping to 44% in 2025 from 48% in 2024 [3][4] Generational Trends - Gen Z showed a decline in participation in rent payment reporting from 26% in 2024 to 18% in 2025, although they still have the highest participation rate among generations [7] - The percentage of renters with reported rent payments varies by generation, with Gen Z at 18%, Millennials at 16%, Gen X at 12%, and Baby Boomers at 8% [8] Regulatory Environment - California now mandates property managers to report rent payments to credit agencies, while Colorado has initiated a pilot program requiring annual rent reporting to tenants [6] - The regulatory changes are seen as positive developments that could enhance financial inclusion and credit score improvement for renters [3][5]

Group 1 - TransUnion's President and CEO, Chris Cartwright, will present at the Barclays Global Financial Services Conference on September 9, 2025, at 9:30 a.m. CT [1] - A live webcast of the presentation will be available on the TransUnion Investor Relations website, with a replay accessible after the event [1] Group 2 - TransUnion operates globally with over 13,000 associates in more than 30 countries, focusing on providing reliable representation of individuals in the marketplace [2] - The company has expanded its services beyond core credit into marketing, fraud, risk, and advanced analytics through acquisitions and technology investments [2] - TransUnion promotes the concept of "Information for Good®," which aims to create economic opportunities and empower consumers and businesses [2]

Core Points - TransUnion experienced a data breach that compromised the personal and confidential information of approximately 4,461,511 individuals [2][4] - The breach was identified on July 30, 2025, when suspicious activity was detected on a third-party application [2] - Murphy Law Firm is investigating claims and evaluating legal options, including a potential class action lawsuit for affected individuals [1][3][4] Data Breach Details - Cybercriminals accessed sensitive personal information through an inadequately secured application [2] - The exposed information includes names, Social Security numbers, and dates of birth [5] - There is a risk that the compromised information may be sold on the dark web or used for identity theft [4] Legal Actions - Murphy Law Firm is actively seeking individuals affected by the breach to join a class action lawsuit [1][3] - The firm specializes in data breach class actions and has a history of securing favorable recoveries for clients [4]

Core Points - TransUnion LLC experienced a data breach in July 2025, potentially compromising personal information of customers, including names and Social Security numbers [1][2] - Wolf Haldenstein Adler Freeman & Herz LLP is investigating claims on behalf of affected individuals and is notifying them about the breach [1][2] Company Overview - TransUnion is headquartered in Chicago, Illinois, and is a major player in consumer credit reporting [1] - Wolf Haldenstein Adler Freeman & Herz LLP is a national consumer rights law firm with experience in consumer rights litigation across various courts [4]

Hackers accessed the personal information of more than four million TransUnion customers in July, according to a regulatory disclosure from the major credit reporting agency https://t.co/a0nxzog9lP ...

Data Breach - Credit reporting industry faces unauthorized access to a third-party application [1] - Personal information of customers was stored on the compromised application [1]

Core Points - TransUnion has reported a data breach affecting over 4.4 million customers' personal information [1][2] - The breach occurred on July 28 and was attributed to unauthorized access of a third-party application [1] - TransUnion claims that no credit information was accessed, but has not provided evidence to support this assertion [2] - The specific types of personal data stolen have not been disclosed [2] - TransUnion is one of the largest credit reporting agencies in the U.S., storing financial data for over 260 million Americans [3] - The breach follows a series of hacks targeting major U.S. corporations across various industries [3] - Other companies, including Google and Allianz Life, have also reported data breaches related to their Salesforce-hosted cloud databases [4] - The identity of the hackers behind the TransUnion breach remains unclear, and it is unknown if any demands were made [4]

Core Insights - Serious consumer-level mortgage delinquency rates have increased from 0.89% in Q2 2023 to 1.27% in Q2 2025, indicating a rising trend despite historically low levels [1] - The analysis by TransUnion highlights a direct correlation between payment-to-income (PTI) ratios and mortgage delinquency, suggesting that higher PTI ratios can signal increased risk of delinquency [1][3] Group 1: Mortgage Delinquency Trends - Mortgage delinquency rates have risen gradually, with 60+ days past due (DPD) rates increasing from 0.89% in Q2 2023 to 1.14% in Q2 2024 and further to 1.27% in Q2 2025 [1] - The study focused on nearly 57 million mortgage consumers who were current on their loans, providing a relevant sample for assessing emerging risk factors [2] Group 2: Payment-to-Income Ratios - A strong link was found between changes in PTI for non-mortgage products, such as credit cards, and subsequent increases in mortgage delinquency rates in the following year [3] - As PTI ratios for credit cards increased from 2.18 in March 2023 to 2.33 in December 2023, the 60+ DPD mortgage delinquency rates also rose from 0.42% to 0.63% in the same period [4] Group 3: Implications for Lenders - Mortgage lenders are encouraged to implement a proactive schedule for collecting consumers' cross-wallet credit data to gain early insights into emerging risks of mortgage delinquency [5] - Utilizing trended credit data can help lenders identify shifts in key attributes such as aggregate excess payment and debt-to-income ratios, allowing for timely interventions [6][7]

Core Insights - Consumer credit performance shows early signs of stabilization in Q2 2025, particularly among mortgage holders, while younger Canadians without mortgages continue to face financial pressures [1][2] - Total consumer debt reached $2.58 trillion, a 3.1% year-over-year increase, with average non-mortgage debt per consumer at $22,147 [3][20] - The delinquency rate for non-mortgage holders is nearly double that of mortgage holders, indicating a growing financial divide [2][10] Consumer Debt and Delinquency Trends - Approximately 1.4 million Canadians missed a credit payment in Q2 2025, a decrease of 7,000 from the previous quarter but an increase of 118,000 from a year ago [1] - The average non-mortgage debt for consumers under 36 years old rose to $14,304, with a delinquency rate of 2.35%, reflecting a 19.7% year-over-year increase [10][20] - Delinquency rates in Ontario and Alberta are notably high, with Ontario's non-mortgage delinquency rate at 1.75% and Alberta's at 1.98% [5][6] Regional Analysis - Ontario has the highest delinquency levels for non-mortgage products, with significant increases in urban areas like Toronto and Hamilton [5] - Alberta's delinquency rates have also risen, influenced by economic challenges and a recent population surge [6] - Mortgage delinquency rates in Ontario and British Columbia remain elevated, with Ontario at 0.27% and British Columbia at 0.19% [7] Credit Demand and Spending Behavior - New credit trades decreased by 4.5% year-over-year, with only super-prime consumers seeing growth, indicating tighter lending criteria [12] - Average credit card spending per consumer was over $2,100 in June, a 0.4% decrease from June 2024, suggesting declining consumer spending on credit cards [3] - Auto loan originations increased by 2.9% year-over-year, primarily among low-risk consumers, with average loan amounts climbing to $35,586 [15][16] First-Time Homebuyer Activity - First-time homebuyer activity increased by 1.8% year-over-year, but major markets like Ontario and British Columbia saw lower numbers compared to 2024 [14] - The average loan amount for first-time homebuyers rose by 4% from Q2 2024, now close to $430K, intensifying affordability pressures [14]