Experian North America CEO and Congresswoman Young Kim sit down to discuss the importance of education and modernization to expanding financial access

COSTA MESA, Calif.--(BUSINESS WIRE)--Apr. 30, 2026-- As Financial Literacy Month comes to a close, new research from Experian highlights a gap in consumers’ understanding of the financial system. According to the research, nearly half (47%) of U.S. adults say they’ve made a financial decision they later regretted because they didn’t fully understand the terms.

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The research findings underscore the importance of financial education as consumers navigate an increasingly complex financial environment. While three-quarters of Americans believe financial education helps people make more informed financial decisions, approximately one-in-five expressed lower confidence in their understanding of personal finance. At the same time, nearly half (46%) are worried about covering monthly expenses, while 29% do not believe they could cover an unexpected expense exceeding $1,000.

Recognizing this opportunity, Experian North America CEO Jeff Softley recently sat down with Congresswoman Young Kim (CA-40), co-chair of the Financial Literacy and Wealth Creation Caucus, for a one-on-one conversation focused on the value of effective financial literacy, as well as the need to modernize the industry’s approach to credit data in hopes of expanding financial opportunity for more communities.

Expanding Financial Access: A Conversation with Congresswoman Young Kim

“Talking about finances can be uncomfortable, but it’s essential,” said Jeff Softley, CEO of Experian North America. “We’re committed to helping normalize conversations about money, while also enabling a more comprehensive view of consumers’ financial behavior. When people feel more confident, informed and seen, they’re better positioned to make decisions that support their long-term goals.”

“Financial literacy is a lifelong journey. It doesn’t stop just because you’re an adult. It doesn’t stop when you retire. We actually should be studying today to plan for the future," said Congresswoman Young Kim. "It all starts with understanding what financial tools are available, and how we partner with the industry. It’s not limited to the month of April when we recognize Financial Literacy Month. It’s got to be 24/7, 365 days a year; a lifelong education.”

Consumers open to new approaches that reflect real financial behavior

The research also points to a growing openness toward more modern approaches to understanding financial behavior.

Fifty-six percent of U.S. adults say they would be comfortable with expanded data sources, such as on-time rental payments, utilities and other recurring bills, being used to help improve access to credit. Additionally, nearly half (48%) of consumers believe expanded data sources would improve their financial opportunities if they were included in lending decisions.

Building confidence through education

As financial decision-making becomes more complex, improving financial education remains a key component of long-term financial health.

“Financial literacy isn’t just about knowledge, it’s about confidence,” said Rod Griffin, senior director of consumer education and advocacy at Experian. “When consumers understand how financial decisions work, they’re better equipped to avoid costly missteps and make choices that support their long-term goals.”

To watch the full conversation between Jeff Softley and Congresswoman Young Kim, visit https://www.experian.com/blogs/news/2026/04/30/expanding-financial-access-conversation-with-congresswoman-young-kim/.

For more information on Experian’s research, visit https://www.experian.com/blogs/news/2026/04/30/financial-confidence-starts-with-understanding/.

Methodology

Experian commissioned Atomik Research to conduct an online survey of 2,000 adults throughout the United States. The sample is representative of the U.S. population based on demographic variables such as gender, age, and geographic region. The margin of error is +/- 2 percentage points with a confidence level of 95%. Fieldwork took place between February 24 and March 1, 2026.

About Experian

Experian is a global data and technology company, powering opportunities for people and businesses around the world. We help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software. We also assist millions of people to realize their financial goals and help them to save time and money.

We operate across a range of markets, from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.

We invest in talented people and new advanced technologies to unlock the power of data and to innovate. A FTSE 100 Index company listed on the London Stock Exchange (EXPN), we have a team of 25,200 people across 33 countries. Our corporate headquarters are in Dublin, Ireland. Learn more at experianplc.com.

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Jordan Takeyama
Experian Public Relations
1 951 733 8768
jordan.takeyama@experian.com

Source: Experian