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
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
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
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
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
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
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
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
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