The Consumer Financial Protection Bureau (CFPB) has launched its Spanish language Web site. The site, which is optimized for mobile use, provides access to essential consumer resources such as how to submit a consumer complaint and answers to consumers’ frequently asked questions. “The CFPB is dedicated to being as accessible as possible for the greatest number of consumers,” said CFPB Director Richard Cordray. “CFPB en Español can be a trusted resource for Spanish-speaking consumers looking for clear information on consumer financial products and services.”
The CFPB’s mission is to make the consumer financial markets work for all Americans and to empower consumers to make informed, responsible financial decisions. Latinos were particularly hard hit by the recent financial crisis and are often targeted for financial scams. Latinos are also more likely to be unbanked, underbanked, or use alternative products like money transfers and payday loans. According to Census data, 37 million people speak primarily Spanish at home, and of those, 45 percent do not speak English very well. It is critical that those consumers have a place to turn for understandable, unbiased consumer financial information.
More than 75 percent of Latinos access the internet from a mobile device, at least occasionally, according to the September 2012 Pew Hispanic Center National Survey of Latinos. CFPB en Español uses responsive design to optimize content for use on both mobile devices and computers in order to better serve all consumers. CFPB en Español currently features 250 Ask CFPB questions with more to come. Ask CFPB is an online, interactive database of consumers’ most frequently asked questions and answers. The answers are written in easy-to-read, plain language by CFPB subject-matter experts and are an objective resource for consumers. The answers cover common financial situations, from paying for college and owning a home to dealing with debt and sending money to another country.