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Spotlight on serving limited English proficient consumers: Language access in the consumer financial marketplace

Consumers who are Limited English Proficient (LEP) often encounter barriers to participating in the financial marketplace, including completing key financial documents, managing bank accounts, resolving problems with financial products, and accessing financial education. Financial institutions can help create a marketplace that empowers consumers to make decisions and take actions that support their financial goals. Financial service providers are uniquely positioned because of the various financial touch points they have with consumers, including those with limited English proficiency. The purpose of this report is to raise awareness about the issues that LEP consumers face when participating in the consumer financial marketplace and share some current practices that institutions have implemented to better serve this segment of the population. 

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