{"id":302,"date":"2015-06-26T19:07:57","date_gmt":"2015-06-26T19:07:57","guid":{"rendered":"https:\/\/www.languagetesting.com\/blog\/?p=302"},"modified":"2024-03-18T17:50:03","modified_gmt":"2024-03-18T17:50:03","slug":"is-language-translation-of-services-a-new-banking-trend","status":"publish","type":"post","link":"https:\/\/www.languagetesting.com\/blog\/is-language-translation-of-services-a-new-banking-trend\/","title":{"rendered":"Is Language Translation of Services a New Banking Trend?"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"size-medium wp-image-303 alignleft\" src=\"https:\/\/www.languagetesting.com\/blog\/wp-content\/uploads\/2018\/05\/banking-300x213.png\" alt=\"\" width=\"300\" height=\"213\" srcset=\"https:\/\/www.languagetesting.com\/blog\/wp-content\/uploads\/2018\/05\/banking-300x213.png 300w, https:\/\/www.languagetesting.com\/blog\/wp-content\/uploads\/2018\/05\/banking.png 400w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>The Consumer Financial Protection Bureau (CFPB) is ordering GE Capital Retail Bank (GE Capital), known as\u00a0Synchrony Bank, to &#8220;cough up&#8221; $225 million to consumers who were victims of illegal and discriminatory credit card practices. GE Capital must refund $56 million to approximately 638,000 customers who were subject to these deceptive marketing practices.<\/p>\n<p>In light of these developments many banks and financial institutions\u00a0are taking steps\u00a0to protect themselves against increasing regulations initiated\u00a0by the CFPB for not providing services and disclosures\u00a0in the target language of their customers. One way would be to translate\u00a0such\u00a0items in the specific, native\u00a0language of\u00a0its customers. This\u00a0could likely become a\u00a0trend and a best practices standard for the banking and financial markets. Outside of the risk of potential fines for unintentionally misleading customers,\u00a0taking this\u00a0action will better ensure a\u00a0more positive customer\u00a0experience for consumers who speak any language.<\/p>\n<p><a href=\"http:\/\/www.consumerfinance.gov\/newsroom\/cfpb-orders-ge-capital-to-pay-225-million-in-consumer-relief-for-deceptive-and-discriminatory-credit-card-practices\/\" target=\"_blank\" rel=\"noopener\">Click here<\/a>\u00a0to read the full article on CFPB&#8217;s fine to\u00a0GE Capital <a href=\"https:\/\/www.east-inflatables.com\/Norway\/Buy-Water-Slide-Sea-Tema-335.html\" target=\"_blank\" rel=\"noopener\">Water Slide Sea Tema<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Consumer Financial Protection Bureau (CFPB) is ordering GE Capital Retail Bank (GE Capital), known as\u00a0Synchrony Bank, to &#8220;cough up&#8221; $225 million to consumers who were victims of illegal and discriminatory credit card practices. GE Capital must refund $56 million to approximately 638,000 customers who were subject to these deceptive marketing practices. In light of [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2,3,45],"tags":[85,86,7],"class_list":["post-302","post","type-post","status-publish","format-standard","hentry","category-commercial","category-government","category-press","tag-banking-actfl","tag-foreign-global-market","tag-language-testing"],"acf":[],"aioseo_notices":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/posts\/302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/comments?post=302"}],"version-history":[{"count":2,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/posts\/302\/revisions"}],"predecessor-version":[{"id":3379,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/posts\/302\/revisions\/3379"}],"wp:attachment":[{"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/media?parent=302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/categories?post=302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.languagetesting.com\/blog\/wp-json\/wp\/v2\/tags?post=302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}