News & Analysis as of

Equal Credit Opportunity Act Limited English Proficiency (LEP)

Hudson Cook, LLP

Diversity and Inclusion by Language Choice

Hudson Cook, LLP on

Over the past year, our focus as a country and around the world has made a seismic shift toward equality, diversity, and inclusion. In some ways, the financial services industry (at least big banks) had already moved...more

Alston & Bird

CFPB Issues Statement Encouraging Work with LEP Consumers

Alston & Bird on

A&B ABstract:  On January 13, 2021, the Consumer Financial Protection Bureau (“CFPB”) issued a Statement encouraging financial institutions to expand access to financial products and services for consumers with limited...more

Bradley Arant Boult Cummings LLP

FTC’s Comment on ECOA and Regulation B Signals Continued Focus on Small Business Lending

Last year, the CFPB issued a notice and request for information on the Equal Credit Opportunity Act (ECOA) and Regulation B. Specifically, the CFPB sought “comments and information to identify opportunities to prevent credit...more

Morgan Lewis - All Things FinReg

Fair Lending Focus: CFPB Issues Statement on Serving Consumers with Limited English Proficiency

The Consumer Financial Protection Bureau (Bureau or CFPB) on January 13 issued a Statement Regarding the Provision of Financial Products and Services to Consumers with Limited English Proficiency (Statement) ...more

Manatt, Phelps & Phillips, LLP

CFPB’s Request for Information Sends Fair Lending Signals

On July 28, the Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) seeking industry input on the future of the Equal Credit Opportunity Act (ECOA) and Regulation B. While fair lending...more

Ballard Spahr LLP

HUD Fair Housing Guidance Raises ECOA Risk in Serving LEP Consumers

Ballard Spahr LLP on

New guidance issued by the U.S. Department of Housing and Urban Development (HUD) on Fair Housing Act (FHA) protections for persons with limited English proficiency (LEP) could have reverberations under the Equal Credit...more

Ballard Spahr LLP

CFPB urged to adopt strong protections for LEP consumers

Ballard Spahr LLP on

Americans for Financial Reform (AFR) has issued a brief in which it urges the CFPB and other federal agencies to adopt strong language access protections to improve the mortgage marketplace for limited English proficiency...more

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