Limited English Proficiency

The Bureau of Consumer Financial Protection (the “BCFP”) has published a revised 2018 Glossary of English-Spanish Financial Terms (the “Glossary”). Originally published in 2015, the Glossary is intended to provide “a uniform translation of common financial terms to assist consumers with limited English proficiency (“LEP”).” Using terms compiled from other entities, including the Federal

Although the CFPB’s leadership transition rightfully remains top of mind for many of our readers, we wanted to recap two developments related to serving consumers who are Limited English Proficient (LEP). In the days before Director Cordray’s resignation, the CFPB officially approved Fannie Mae and Freddie Mac’s final redesigned Uniform Residential Loan Application (URLA), which

The Federal Housing Finance Agency has announced that it has reopened and extended until September 1, 2017 the comment period on its Request for Input on improving language access in mortgage lending and servicing.  The FHFA previously extended the comment period until July 31, 2017.

According to the FHFA, it took this action “to allow

A group of eight trade associations has sent a letter to the Federal Housing Finance Agency (FHFA) asking the FHFA to extend by at least 45 days the comment period on the FHFA’s Request for Input (RFI) on improving language access in mortgage lending and servicing.  Issued this past May, the RFI asks for input