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Equifax launches foreign credit score sourcing program for newcomers

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TORONTO – Equifax Inc. is launching a program to allow newcomers to transfer their foreign credit history to Canada.

The credit reporting company said Thursday that the Global Consumer Credit File will make it easier for immigrants to access services like loans and cellphone plans in Canada by providing the additional data.

“It’s really important when newcomers land that they get access to the financial services ecosystem, and without credit history that’s very difficult to do,” said Sue Hutchison, head of Equifax Canada.

“They’re typically looking to, you know, rent an apartment, get a mobile phone, probably a credit card, and all of those things require credit history. So not having it makes it very difficult for newcomers.”

Equifax isn’t the first to launch such a program in Canada. San Francisco-based Nova Credit, which launched in 2016 to provide global credit score access, expanded into Canada last year in a partnership with Scotiabank.

The company has since expanded with partnerships at RBC, BMO and Rogers Communications Inc., among others.

Nova Credit partners with several credit bureaus, including Equifax, to provide data from more than 20 countries. With Equifax becoming a competitor in the space, Hutchison said conversations are underway around data access going forward.

Equifax, which has operations or investment in 24 countries, will have the advantage of being the direct provider of data from its foreign bureaus, said Hutchison.

“It’s going be coming directly from us. So that’s, I think, very attractive to the lenders themselves that they’ll be dealing directly with the credit bureau.”

The program will initially provide data from India, but the plan is to extend it to Brazil, Argentina and Chile over the coming months. Longer-term, it plans to include 18 countries in total.

Equifax will use both the data from its own operations and source from other bureaus to provide the data.

Because countries have different ways of creating credit scores, Equifax plans to provide lenders a Canadian score, a global score and a calibrated blend of both.

The program comes as Canada has seen elevated immigration in recent years, while Hutchison said Equifax’s now cloud-based platform also makes it easier to share the data securely.

This report by The Canadian Press was first published Oct. 24, 2024

The Canadian Press. All rights reserved.



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One Tech Tip: How to prepare your online accounts for when you die

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LONDON (AP) — Most people have accumulated a pile of data — selfies, emails, videos and more — on their social media and digital accounts over their lifetimes. What happens to it when we die?

It’s wise to draft a will spelling out who inherits your physical assets after you’re gone, but don’t forget to take care of your digital estate too. Friends and family might treasure files and posts you’ve left behind, but they could get lost in digital purgatory after you pass away unless you take some simple steps.

Here’s how you can prepare your digital life for your survivors:

Apple

The iPhone maker lets you nominate a “ legacy contact ” who can access your Apple account’s data after you die. The company says it’s a secure way to give trusted people access to photos, files and messages. To set it up you’ll need an Apple device with a fairly recent operating system — iPhones and iPads need iOS or iPadOS 15.2 and MacBooks needs macOS Monterey 12.1.

For iPhones, go to settings, tap Sign-in & Security and then Legacy Contact. You can name one or more people, and they don’t need an Apple ID or device.

You’ll have to share an access key with your contact. It can be a digital version sent electronically, or you can print a copy or save it as a screenshot or PDF.

Take note that there are some types of files you won’t be able to pass on — including digital rights-protected music, movies and passwords stored in Apple’s password manager. Legacy contacts can only access a deceased user’s account for three years before Apple deletes the account.

Google

Google takes a different approach with its Inactive Account Manager, which allows you to share your data with someone if it notices that you’ve stopped using your account.

When setting it up, you need to decide how long Google should wait — from three to 18 months — before considering your account inactive. Once that time is up, Google can notify up to 10 people.

You can write a message informing them you’ve stopped using the account, and, optionally, include a link to download your data. You can choose what types of data they can access — including emails, photos, calendar entries and YouTube videos.

There’s also an option to automatically delete your account after three months of inactivity, so your contacts will have to download any data before that deadline.

Facebook and Instagram

Some social media platforms can preserve accounts for people who have died so that friends and family can honor their memories.

When users of Facebook or Instagram die, parent company Meta says it can memorialize the account if it gets a “valid request” from a friend or family member. Requests can be submitted through an online form.

The social media company strongly recommends Facebook users add a legacy contact to look after their memorial accounts. Legacy contacts can do things like respond to new friend requests and update pinned posts, but they can’t read private messages or remove or alter previous posts. You can only choose one person, who also has to have a Facebook account.

You can also ask Facebook or Instagram to delete a deceased user’s account if you’re a close family member or an executor. You’ll need to send in documents like a death certificate.

TikTok

The video-sharing platform says that if a user has died, people can submit a request to memorialize the account through the settings menu. Go to the Report a Problem section, then Account and profile, then Manage account, where you can report a deceased user.

Once an account has been memorialized, it will be labeled “Remembering.” No one will be able to log into the account, which prevents anyone from editing the profile or using the account to post new content or send messages.

X

It’s not possible to nominate a legacy contact on Elon Musk’s social media site. But family members or an authorized person can submit a request to deactivate a deceased user’s account.

Passwords

Besides the major online services, you’ll probably have dozens if not hundreds of other digital accounts that your survivors might need to access. You could just write all your login credentials down in a notebook and put it somewhere safe. But making a physical copy presents its own vulnerabilities. What if you lose track of it? What if someone finds it?

Instead, consider a password manager that has an emergency access feature. Password managers are digital vaults that you can use to store all your credentials. Some, like Keeper,Bitwarden and NordPass, allow users to nominate one or more trusted contacts who can access their keys in case of an emergency such as a death.

But there are a few catches: Those contacts also need to use the same password manager and you might have to pay for the service.

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Is there a tech challenge you need help figuring out? Write to us at onetechtip@ap.org with your questions.



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Google’s partnership with AI startup Anthropic faces a UK competition investigation

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LONDON (AP) — Britain’s competition watchdog said Thursday it’s opening a formal investigation into Google’s partnership with artificial intelligence startup Anthropic.

The Competition and Markets Authority said it has “sufficient information” to launch an initial probe after it sought input earlier this year on whether the deal would stifle competition.

The CMA has until Dec. 19 to decide whether to approve the deal or escalate its investigation.

“Google is committed to building the most open and innovative AI ecosystem in the world,” the company said. “Anthropic is free to use multiple cloud providers and does, and we don’t demand exclusive tech rights.”

San Francisco-based Anthropic was founded in 2021 by siblings Dario and Daniela Amodei, who previously worked at ChatGPT maker OpenAI. The company has focused on increasing the safety and reliability of AI models. Google reportedly agreed last year to make a multibillion-dollar investment in Anthropic, which has a popular chatbot named Claude.

Anthropic said it’s cooperating with the regulator and will provide “the complete picture about Google’s investment and our commercial collaboration.”

“We are an independent company and none of our strategic partnerships or investor relationships diminish the independence of our corporate governance or our freedom to partner with others,” it said in a statement.

The U.K. regulator has been scrutinizing a raft of AI deals as investment money floods into the industry to capitalize on the artificial intelligence boom. Last month it cleared Anthropic’s $4 billion deal with Amazon and it has also signed off on Microsoft’s deals with two other AI startups, Inflection and Mistral.

The Canadian Press. All rights reserved.



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Beyoncé, whose ‘Freedom’ is Harris’ campaign anthem, is expected at Democrat’s Texas rally on Friday

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PHILADELPHIA (AP) — Beyoncé is expected to appear Friday in her hometown of Houston at a rally for Vice President Kamala Harris, according to three people familiar with the matter.

Harris’ presidential campaign has taken on Beyonce’s 2016 track “Freedom” as its anthem, and the singer’s planned appearance brings a high-level of star power to what has become a key theme of the Democratic nominee’s bid: freedom.

Harris will head to the reliably Republican state just 10 days before Election Day in an effort to refocus her campaign against former President Donald Trump on reproductive care, which Democrats see as a make-or-break issue this year.

The three people were not authorized to publicly discuss the matter and spoke on condition of anonymity. The Harris campaign did not immediately comment.

Beyoncé‘s appearance was expected to draw even more attention to the event — and to Harris’ closing message.

Harris’ Houston trip is set to feature women who have been affected by Texas’ restrictive abortion laws, which took effect after the Supreme Court overturned Roe v. Wade in 2022. She has campaigned in other states with restrictive abortion laws, including Georgia, among the seven most closely contested states.

Harris has centered her campaign around the idea that Trump is a threat to American freedoms, from reproductive and LGBTQ rights to the freedom to be safe from gun violence.

Beyonce gave Harris permission early in her campaign to use “Freedom,” a soulful track from her 2016 landmark album “Lemonade,” in her debut ad. Harris has used its thumping chorus as a walk-out song at rallies ever since.

Beyoncé’s alignment with Harris isn’t the first time that the Grammy winner has aligned with a Democratic politician. Barack Obama and his wife, Michelle, danced as Beyoncé performed at a presidential inaugural ball in 2009.

In 2013, she sang the national anthem at Obama’s second inauguration. Three years later, she and her husband Jay-Z performed at a pre-election concert for Democrat Hillary Clinton in Cleveland.

“Look how far we’ve come from having no voice to being on the brink of history — again,” Beyoncé said at the time. “But we have to vote.”

A January poll by Ipsos for the anti-polarization nonprofit With Honor found that 64% of Democrats had a favorable view of Beyonce compared with just 32% of Republicans. Overall, Americans were more likely to have a favorable opinion than an unfavorable one, 48% to 33%.

Speculation over whether the superstar would appear at this summer’s Democratic National Convention in Chicago reached a fever pitch on the gathering’s final night, with online rumors swirling after celebrity news site TMZ posted a story that said: “Beyoncé is in Chicago, and getting ready to pop out for Kamala Harris on the final night of the Democratic convention.” The site attributed it to “multiple sources in the know,” none of them named.

About an hour after Harris ended her speech, TMZ updated its story to say, “To quote the great Beyoncé: We gotta lay our cards down, down, down … we got this one wrong.” In the end, Harris took the stage to star’s song, but that was its only appearance.

Last year, Harris and her husband, Doug Emhoff, attended Beyoncé’s Renaissance World Tour in Maryland after getting tickets from Beyonce herself. “Thanks for a fun date night, @Beyonce,” Harris wrote on Instagram.

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Long and Kinnard reported from Washington. Associated Press writer Linley Sanders in Washington contributed to this report. Kinnard can be reached at

The Canadian Press. All rights reserved.



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