The CFPB issued guidance
(the Statement) for financial institutions that serve limited English
proficiency (LEP) consumers and members. The statement includes guidance on how
financial institutions can serve LEP consumers in non-English languages, in a
manner that is beneficial to consumers and that is in compliance with relevant
statutes and regulations.
Specifically, the statement covers principles
to inform and guide financial institutions in their decision-making related to
serving LEP consumers, and key considerations institutions can use to develop
compliance solutions for providing products and services in non-English
languages to LEP consumers.
The Statement is available at: https://www.consumerfinance.gov/about-us/blog/bureau-takes-additional-steps-to-foster-an-inclusive-financial-system/