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ARTICLE · 15 JANUARY 2021

CFPB Issues Guidance On Doing Business With LEP Consumers

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On January 13, 2021, the Bureau issued a guidance statement regarding the provision of financial products and services to consumers with limited English proficiency (the Statement).

United StatesConsumer Protection
Stephanie Robinson
Stephanie Robinson
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On January 13, 2021, the Bureau issued a guidance statement regarding the provision of financial products and services to consumers with limited English proficiency (the Statement). In the Statement, the Bureau defines a consumer with "limited English proficiency" or a "limited English proficient" (LEP) consumer as a person who has a limited ability to read, write, speak, or understand English.

Noting that LEP consumers have considerable credit needs but often encounter language access issues that make it difficult for them to participate in the consumer financial marketplace, the Bureau issued its Statement to encourage financial institutions to promote access to credit by better serving LEP consumers. Financial institutions and other interested parties have been anticipating this guidance for some time. LEP was one of the topics that received the most comments in response to the Bureau's ECOA RFI, with many commenters calling for the Bureau to issue guidance to

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