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