CFPB Issues Reminder on Spanish-Language Disclosures

The bureau has model disclosures, including the debt collection model validation notice, available to help regulated entities provide materials to Spanish-speaking consumers.

05/12/2022 12:15 P.M.

1 minute read

The Consumer Financial Protection Bureau has issued an updated list of disclosures in Spanish, including the debt collection model validation notice.

“Financial service providers increasingly recognize the need for more services and customer-facing materials in languages other than English,” the CFPB reports in a blog post. “Over the years, we have encouraged financial institutions to provide fair and transparent access to products and services to people who are more comfortable using a language other than English.”

The CFPB’s Reg F final rule does not adopt mandatory Spanish-language or other foreign-language disclosures, although it notes that consumers with limited English proficiency may benefit from translated validation notices, ACA International previously reported. Debt collectors using the model validation notice should be aware that it includes the optional Spanish-language disclosures, which the debt collector may remove without sacrificing the safe-harbor provided by the rule.

The CFPB also provides “considerations and guidelines” that companies can use when working with consumers in languages other than English.

ACA knows many companies continue to update their policies and procedures to comply with Reg F, and recommends the ACA How: Reg F Implementation video series and Reg F Resource Center for ongoing compliance resources.

If you have executive leadership updates or other member news to share with ACA, contact our communications department at [email protected]. View our publications page for more information and our news submission guidelines here.

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