Since the outset of U.S. Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra’s leadership, fair lending issues have been at the forefront of his policy priorities. In November 2021, the CFPB identified that supporting consumers with limited English proficiency (LEP) was one of its fair lending initiatives. Since Director Chopra’s confirmation, the CFPB has reiterated the importance of adequately serving LEP consumers and highlighted key ways to do so. Recent CFPB guidance in this area has introduced several new questions for financial service providers to consider when serving LEP consumers.
Shortly before the leadership transition to the Biden administration, the CFPB released its Statement Regarding the Provision of Financial Products and Services with Limited English Proficiency.1 More recently, under Director Chopra’s leadership, additional news releases, reports, and guidance documents have been published focusing on services to LEP consumers.2 Two areas emerging of particular interest are collecting and analyzing consumer language preferences and providing pertinent non-English disclosures when appropriate.
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