In Translation for the Latino Market Today: Acknowledging the Rights of Consumers in a Multilingual Housing Market

Abstract:     
The Federal Truth in Lending Act (TILA) requires lenders to disclose the full cost of credit to borrowers. In the case of linguistic minorities, California law goes one step further. Under California Civil Code section 1632, lenders are required to provide unexecuted translations of loan documents to consumers whose language of proficiency is Spanish, Chinese, Tagalog, Vietnamese, or Korean. This Article considers the needs of consumers in a multilingual housing market and then offers a sketch of California Civil Code section 1632, which represents an important step toward affirming the economic, legal, and civil rights of consumers who, by reason of their language proficiencies, are vulnerable in credit markets.

Number of Pages in PDF File: 18

Keywords: Truth in Lending, Banking, Adjustable Rate Mortgages, Latino/Hispanic, Consumer Rights, Law & Society

Accepted Paper Series