Support Spanish-speaking customers with Spanish-language disclosures

Financial service providers increasingly recognize the need for more services and customer-facing materials in languages other than English. 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.

We have noted before that financial institutions need to make sure translations they use are accurate, and, when it comes to translations, they should prioritize communications and activities that most significantly affect consumers. We also provided key considerations and guidelines that companies can use when serving customers in languages other than English.

Disclosures are one part of the way financial institutions interact with their customers. Disclosure documents make sure that financial institutions provide the same information to all customers. Broad access to clear and relevant information helps promote competitive markets and strengthens relationships between financial services providers and their customers. Sometimes, access to clear information is missing from interactions with customers who have limited proficiency in English. Competitive, transparent, and fair markets are supported by providing translations of disclosures in the customer’s preferred language, along with the corresponding English-language disclosures.

To help financial institutions better support Spanish-speaking communities, we have made available Spanish translations of the following disclosures:

• Prepaid card model forms, delivering information to consumers about fees and provisions of reloadable and payroll cards
• Adverse action sample notices, providing reasons credit was denied or offered on different terms, and notice of incomplete applications and the applicant’s right to obtain information
• Home mortgage origination documents, including the Loan Estimate and Closing Disclosure, plus explanatory booklets Your Home Loan Toolkit, the Consumer Handbook on Adjustable-Rate Mortgages, and the Home Equity Line of Credit booklet
• Early intervention clauses for mortgage servicers , informing delinquent mortgage borrowers about their options
• Credit reporting notices, explaining a firm offer of credit and outlining a consumer’s rights under the Fair Credit Reporting Act and their rights in the event of identity theft
• Debt collection model validation notice, helping consumers identify and verify debts being collected

We encourage the use of the translations alongside the corresponding English-language disclosures as you work with Spanish-speakers in your community.