In a new blog post today, the CFPB highlighted its resources available to help financial institutions serve their Spanish-speaking customers. Resources include Spanish translations of prepaid card model forms; adverse action sample notices; home mortgage origination documents and booklets; early intervention clauses for mortgage servicers; credit reporting notices; and a debt collection model validation notice.
“Broad access to clear and relevant information helps promote competitive markets and strengthens relationships between financial services providers and their customers,” the bureau said in the blog post. “Sometimes, access to clear information is missing from interactions with customers who have limited proficiency in English. Competitive, transparent and fair markets are supported by providing translations of disclosures in the customer’s preferred language, along with the corresponding English-language disclosures.”