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On April 29, the CPFB sent out an email blast, pasted in below, that notes that financial institutions are reminded “of their obligation to serve the communities where they do business, including communities with limited English proficiency – as well as to encourage them to use the translations as they work with Spanish-speakers in their community.” This notice comes as the CFPB announced that is “has released Spanish translations for certain model and sample forms included in the Prepaid Rule in Regulation E and for certain adverse action model and sample notices included in Regulation B. This release is part of the CFPB’s ongoing emphasis on ensuring fair access to competitive and transparent markets for all consumers, including those with limited English proficiency.”
Good morning,
Today, the CFPB has released Spanish translations for certain model and sample forms included in the Prepaid Rule in Regulation E and for certain adverse action model and sample notices included in Regulation B. This release is part of the CFPB’s ongoing emphasis on ensuring fair access to competitive and transparent markets for all consumers, including those with limited English proficiency. The CFPB is also taking this opportunity to remind financial institutions of their obligation to serve the communities where they do business, including communities with limited English proficiency – as well as to encourage them to use the translations as they work with Spanish-speakers in their community.
You can access the translated Prepaid Rule forms here: www.consumerfinance.gov/compliance/compliance-resources/consumer-cards-resources/prepaid-cards/prepaid-model-forms-samples/.
You can access the translated ECOA/Regulation B forms here: http://www.consumerfinance.gov/compliance/compliance-resources/other-applicable-requirements/equal-credit-opportunity-act/model-credit-application-and-sample-notification-forms/.
Thank you,
Consumer Financial Protection Bureau