May 17, 2013

CFPB advisory group focus on new Americans

May 17, 2013 – A two-day meeting of the CFPB Consumer Advisory Board this week in Los Angeles looked at the concerns of new Americans and was a venue for launching the bureau's Spanish-language website.

CFPB Director Richard Cordray said the site, CFPB en Español, represents the bureau's first foray into mobile technology.

The Consumer Advisory Board members saw a demonstration of the new site Wednesday, the second day of the group's meeting. The site includes 250 of the questions and answers from "AskCFPB," the bureau's interactive database for consumers, and can be viewed on a computer and on a mobile device. The bureau has also been translating many of its informational brochures into Spanish.

"We want to expand our website to include more Spanish resources and then to build more tools in other languages so that we can reach as many consumers as effectively as possible," he said in prepared remarks.

The Consumer Advisory Board was created under the Dodd-Frank Act to advise and consult with the bureau director on consumer financial issues. Two of its 25 members are from credit unions: Laura Castro de Cortes, vice president of alternative financial services at Centris FCU (a NAFCU member); and William Bynum, CEO of Hope FCU. Bynum is the panel's vice chair.

The advisory board meets four times a year.