As discussed in our June 12th and August 7th posts, The New York City Department of Consumer Affairs (“DCA”) issued new debt collection rules related to limited English proficiency servicing, which took effect June 27, 2020. Due to the COVID-19 crisis, the DCA provided the industry with a 60-day enforcement grace period until August 26, 2020.… Continue Reading
Limited English Proficiency
New York City Department of Consumer Affairs issues formal guidance on its new limited English proficiency debt collection rules
As discussed in our June 12th post, the New York City Department of Consumer Affairs (“DCA”) issued new debt collection rules related to limited English proficiency servicing. These rules took effect June 27, 2020, but due to the COVID-19 crisis, DCA provided the industry with a 60-day enforcement grace period until August 26, 2020.… Continue Reading
CFPB Holds Roundtable to Solicit Feedback on Serving LEP Consumers
By Ballard CFS Group 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 advocates and industry representatives on how the Bureau can facilitate greater access to financial products and services for consumers with limited English proficiency (LEP). … Continue Reading
This week’s podcast: New York City’s Department of Consumer Affairs adopts new language proficiency requirements for debt collections: what you need to know
Recent amendments to NYC’s debt collection rules impose new requirements relating to consumers’ language proficiency. Following an overview, we take a close look at the specific requirements and their applicability to first- and third-party collections, discuss the DCA’s authority, availability of federal preemption, and compliance challenges, and offer thoughts on best compliance practices.… Continue Reading
Enforcement grace period expected for amendments to New York City debt collection regulations adding language proficiency requirements
ACA International has reported that after discussions last week with the New York City Department of Consumer Affairs (DCA), the DCA is expected to announce a 60-day enforcement grace period for the new requirements relating to consumers’ language proficiency that were recently added to NYC’s existing debt collection regulations. The new requirements currently are set to take effect on June 27, 2020.… Continue Reading
New York City amends debt collection regulations to include language proficiency requirements
New debt collection rules creating requirements relating to consumers’ language proficiency are set to take effect in New York City on June 27, 2020. The new rules amend NYC’s existing debt collection regulations applicable to creditors collecting their own debts as well as third-party collection agencies. Accordingly, the new rules appear to have implications for creditors and debt collectors alike with respect to any collection activities involving NYC consumers.… Continue Reading
BCFP Updates Glossary of English-Spanish Financial Terms
By Ballard CFS Group on
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 Housing Finance Agency, Department of Housing and Urban Development, Internal Revenue Service, Department of Justice, Federal Deposit Insurance Corporation, Federal Trade Commission, Social Security Administration, Freddie Mac, Fannie Mae, General Services Administration, and National Association of Hispanic Real Estate Professionals, the updated Glossary now contains over 1,500 consumer financial terms translated from English to Spanish.… Continue Reading
CFPB Guidance on Serving LEP Consumers
By Heather S. Klein on
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 added a question about mortgage applicants’ language preference.… Continue Reading
FHFA announces reopening and second extension of comment period for LEP RFI
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 interested parties more time to consider additional information on issues facing qualified mortgage borrowers with Limited English Proficiency (LEP) throughout the mortgage life cycle process, including mortgage lending and servicing.”… Continue Reading
FHFA extends comment period for LEP RFI
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.
Issued this past May, the RFI asked for input to be provided by no later than July 10, 2017. … Continue Reading