The Consumer Financial Protection Bureau (CFPB) this week issued guidance for financial institutions serving limited English proficiency (LEP) consumers.

It includes guidance on how financial institutions can serve these consumers in non-English languages in a manner that is beneficial to consumers and 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.