In furtherance of our mission, I have directed the Division of Research, Markets, and Regulations (RMR) to take some immediate actions, and I want to share my directions publicly.
Last week, I was honored to have been appointed Acting Director of the CFPB by the President. Having joined the Bureau in 2011, I have seen firsthand the impact of the Bureau’s mission and the incredible work being done by its staff. I know that the Bureau’s staff shares my devotion to the Bureau’s mission, and I look forward to serving in this latest capacity.
I am pleased to announce that the Bureau has published the “Statement Regarding the Provision of Financial Products and Services to Consumers with Limited English Proficiency.” The Statement provides principles and guidelines to inform and assist financial institutions seeking to better serve LEP consumers in non-English languages.
The CFPB is taking steps to help create real and sustainable changes in our financial system so that African Americans and other minorities have equal opportunities to build wealth and close the economic divide.
As Consumer Financial Protection Week comes to a close, the CFPB continues to be here for you with resources to explain your rights, options and protections during the coronavirus pandemic.