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

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 dialects, and having non-English compliance and monitoring resources have been coupled with a great deal of uncertainty about regulatory risks from serving LEP consumers. In the past,

The CFPB recently released a report regarding the use of Mobile Financial Services by underserved populations, including low-income, unbanked, underbanked, and economically vulnerable consumers. The report does not contain any findings or specific recommendations; rather, it is a summary of public comments received in response to the Request for Information issued in June 2014 by

On September 17, I had the opportunity to speak on a panel at the American Bar Association’s Consumer Financial Services Committee meeting in Chicago (which was held as a part of the ABA Business Law Section Annual Meeting), covering the topic of how financial institutions can serve consumers with limited English proficiency (LEP). I was