News & Analysis as of

Fair Lending Limited English Proficiency (LEP)

Ballard Spahr LLP

CFPB Language Access Plan for Consumers with Limited English Proficiency

Ballard Spahr LLP on

Throughout the past few years, the CFPB has sought input from a range of stakeholders, including community-based organizations and financial institutions, for feedback about how it can improve consumer financial products and...more

Orrick, Herrington & Sutcliffe LLP

CFPB’s Language Access Plan breakdown for consumers with limited English proficiency

On November 15, the CFPB issued a report, titled “The CFPB Language Access Plan for consumers with limited English proficiency,” on expanding consumer needs in the financial marketplace for individuals with limited English...more

Davis Wright Tremaine LLP

[Webinar] Hot Topics in Fair Servicing - April 13th, 11:00 am - 12:00 pm PT

The national and administrative focus on advancing racial equity and support for underserved communities keeps fair servicing in the foreground as a top priority for mortgage servicers. In this webinar, you’ll hear from a...more

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

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

CFPB Holds Roundtable to Solicit Feedback on Serving LEP Consumers

Ballard Spahr LLP on

On July 29, 2020, the CFPB hosted a roundtable discussion, attended by Director Kathy Kraninger and moderated by the Bureau’s Principal Deputy Director of Fair Lending, Frank Vespa-Papaleo, to hear feedback from consumer...more

Ballard Spahr LLP

FHFA extends comment period for LEP RFI

Ballard Spahr LLP on

The Federal Housing Finance Agency has announced that it has extended until July 31, 2017 the comment period on its Request for Input on improving language access in mortgage lending and servicing....more

Ballard Spahr LLP

The CFPB’s Latest LEP Guidance: A Step in the Right Direction

Ballard Spahr LLP on

Serving consumers with limited English proficiency (“LEP Consumers”) is one of the most challenging issues facing financial institutions today. The logistical challenges of ensuring accurate translations, dealing with...more

Ballard Spahr LLP

CFPB issues Fall 2016 Supervisory Highlights

Ballard Spahr LLP on

In its Fall 2016 Supervisory Highlights, which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Limited English Proficiency: An Emerging Compliance Risk"

How consumer financial services providers can meet the needs of a growing population of "limited English proficiency" (LEP) consumers without running afoul of laws prohibiting deceptive practices and discrimination has...more

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