The Consumer Financial Protection Bureau (CFPB) has issued new guidance to help financial institutions increase access to fair and nondiscriminatory credit for people with limited English proficiency (LEP).
The statement provides guidelines institutions can use to help implement those principles and develop compliance solutions, including specific information about common components of a compliance management system.
Read on for highlights of the CFPB’s statement and remarks from then-Director Kathy Kraninger, who announced her resignation Wednesday.
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