the cfpb’s glossary of english- chinese financial terms · the cfpb offers a number of other...

October 2015

The CFPBs Glossary of English-Chinese Financial Terms

1 CONSUMER FINANCIAL PROTECTION BUREAU ENGLISH-CHINESE GLOSSARY

Table of contents Table of contents......................................................................................................... 1

Introduction ................................................................................................................. 2

Glossary ....................................................................................................................... 4

CFPB Divisions and Offices ............................................................................... 4

Legislation ......................................................................................................... 6

Frequently referenced organizations ................................................................ 8

Commonly used phrases and words ............................................................... 12


Introduction Listening and serving consumers is central to the Bureau's mission of ensuring that all consumers have access to transparent consumer financial products and services. Since its inception, the Bureau has provided consumers with numerous ways to make their voices heard. Consumers nationwide have engaged with the Bureau through public field hearings, listening events, roundtables, town halls, the Bureau's Web site (consumerfinance.gov), and the Bureau's Consumer Response function. The Bureau has also sought input from a range of financial education stakeholders about challenges consumers face, effective tools in overcoming those challenges, and ways the Bureau can improve the financial decision-making process of consumers by helping them better navigate the marketplace of financial products and services. This engagement strengthens the Bureau's understanding of current issues in the consumer financial marketplace and informs its work.

The Bureau understands that this engagement is strengthened by efforts to include limited English proficienct persons (individuals who do not speak English as their primary language and who have a limited ability to speak, write, or understand English). According to a 2010 Census Report, there are over 24 million people in the United States who do not speak English very well. This includes people who classify themselves as speaking English not well and people who do not speak English at all. Studies by Federal agencies and other stakeholders have highlighted that receipt of materials in consumers' native languages is essential to increasing these consumers' knowledge about financial products and services.

This glossary of common financial terms was created and is used by the Bureau for translating consumer education materials from English to Chinese. The Bureau is publically sharing it in an effort to further the accessibility of financial information to limited English proficiency persons. It is the vision of the CFPB that other stakeholders seeking to financially educate or serve limited English proficient consumers may use the glossary of terms as a resource. The glossary of terms is not mandated, nor is it guidance or a requirement for any stakeholder.

The CFPB offers a number of other resources for the limited English proficient consumer, including:

Publications in multiple languages at http://promotions.usa.gov/cfpbpubs.html - anuncios.

http://promotions.usa.gov/cfpbpubs.html#anuncioshttp://promotions.usa.gov/cfpbpubs.html#anuncios


CFPB en Espaol, http://www.consumerfinance.gov/es/.

Limited English proficient persons can submit complaints to the CFPB in more than 180 languages via telephone at 855-411-2372.

CFPB Resources for financial educators at http://www.consumerfinance.gov/adult-financial-education

The CFPB is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. To learn more and access additional resources, visit www.consumerfinance.gov.

http://www.consumerfinance.gov/es/


Glossary

CFPB Divisions and Offices TABLE 1: CONSUMER FINANCIAL PROTECTION BUREAU

English Chinese

English Chinese

CFPB CFPB

CFPB Divisions and Offices CFPB

TABLE 2: DIVISIONS

English Chinese

Division of the Chief Operating Officer

Division of Consumer Education and Engagement

Division of External Affairs

Division of Research, Markets & Regulations

Division of Supervision, Enforcement, Fair Lending and Equal Opportunity

Division of the Chief Operating Officer


TABLE 3: OFFICES

English Chinese

Office of Consumer Response

Office of Enforcement

Office of Fair Lending and Equal Opportunity

Office of Financial Education

Office of Financial Empowerment

Office of General Counsel

Office of Media Relations

Office of Minority and Women Inclusion (OMWI) OMWI

Office of Nonbank Supervision

Office for Older Americans

Office of the Ombudsman

Office of Regulations

Office of Servicemembers Affairs

Office for Students


Legislation TABLE 4: LEGISLATION

English Chinese

Affordable Care Act (ACA) ACA

Community Reinvestment Act of 1977 1997

Consumer Leasing Act of 1976 1976

Deceptive Mailing Prevention Act

DoddFrank Act DoddFrank

DoddFrank Wall Street Reform and Consumer Protection Act of 2010

2010 DoddFrank

Electronic Fund Transfer Act

Equal Credit Opportunity Act (ECOA) ECOA

Expedited Funds Availability Act

Fair and Accurate Credit Transaction Act of 2003 (FACTA)

2003 FACTA

Fair Credit and Charge Card Disclosure Act of 1988

1988

Fair Credit Billing Act

Fair Credit Reporting Act

Fair Debt Collection Practices Act (FDCPA)

FDCPA

Fair Housing Act

Federal Insurance Contribution Act (FICA)

FICA

Federal Trade Commission Improvement Act

Flood Disaster Protection Act of 1973 (FDPA) 1973 FDPA


English Chinese

Freedom of Information Act (FOIA) FOIA

Gramm-Leach-Bliley Act

Health Insurance Portability and Accountability Act (HIPAA)

HIPAA Home Equity Loan Consumer Protection Act of 1988 (HELCPA)

1988 HELCPA

Home Mortgage Disclosure Act of 1975 (HDMA) 1975 HDMA

Home Ownership and Equity Protection Act of 1994

1994

Homeowners Protection Act of 1998 1998

Privacy Act

Real Estate Settlement Procedures Act (RESPA) RESPA

Real Estate Settlement Procedures Act of 1974 1974

Regulation HConsumer Protection in Sales of Insurance

H

Regulation PPrivacy of Consumer Financial Information

P

Right to Financial Privacy Act of 1978 1978

Social Security Act

The Federal Deposit Insurance Corporation Improvement Act (FDICIA)

FDICIA The Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)

FIRREA The Foreign Account Tax Compliance Act (FATCA)

FATCA

The SarbanesOxley Act SarbanesOxley Act

The Volcker Rule Volcker Rule

Truth in Lending Act


English Chinese

Truth in Savings Act

Womens Business Ownership Act of 1988 1988

Frequently referenced organizations TABLE 5: ORGANIZATIONS

English Chinese

Administration for Community Living Administration for Community Living

Administration on Aging Administration on Aging

Adult Protective Services Adult Protective Services

American Bar Association American Bar Association

American Bar Association Commission on Law and Aging

Area Agency on Aging Area Agency on Aging

Association for Conflict Resolution Association for Conflict Resolution

Benefitscheckup.org Benefitscheckup.org

Census Bureau

Center for Medicare and Medicaid Services

CMS

Consumer and Governmental Affairs Bureau [of the Federal Communications Commission]

credit reporting agency

debt settlement company

Department of Agriculture (USDA) USDA

Department of Education (ED)


English Chinese

Department of Health and Human Services (HHS) HHS

Department of Homeland Security (DHS) DHS

Department of Housing and Urban Development (HUD)

HUD

Department of Justice (DOJ)

Department of Labor

Department of Public Welfare

Department of State

Department of the Treasury

Department of Veterans Affairs (VA) VA

District Court

Employee Benefits Security Administration (EBSA)

EBSA

Employees' Compensation Appeals Board (ECAB)

ECAB

Federal Communications Commission (FCC) FCC

Federal Deposit Insurance Corporation (FDIC) FDIC

Federal Emergency Management Agency (FEMA)

FEMA

Federal Financial Institutions Examination Council (FFIEC)

FFIEC

Federal Home Loan Bank Board (FHLBB) FHLBB

Federal Home Loan Mortgage Corporation (Freddie Mac)

Freddie Mac

Federal Housing Administration (FHA) FHA

Federal National Mortgage Association (Fannie Mae)

Fannie Mae

Federal Reserve Board Federal Reserve Board

Federal Savings and Loan Insurance Corporation (FSLIC)

FSLIC

Federal Trade Commission (FTC) FTC

Financial Industry Regulatory Authority, Inc. (FINRA)

FINRA


English Chinese

Financial Literacy and Education Commission (FLEC)

FLEC

Financial supervisory agency

Government Accountability Office (GAO) GAO

Government National Mortgage Association (Ginnie Mae)

Ginnie Mae

Health Care Financing Administration (HCFA) HCFA

Immigration and Customs Enforcement (ICE) ICE

Inspector General for the Social Security Administration

Internal Revenue Service IRS

National Association of Attorneys General

National Association of Medicaid Fraud Control Units

National Association of Medicaid Fraud Control Units

National Center on Elder Abuse (NCEA) NCEA

National Credit Union Administration National Credit Union Administration

New York Stock Exchange (NYSE) NYSE

Office of Fair Housing and Equal Opportunity [of the Department of Housing and Urban Development; FHEO]

FHEO

Office of Federal Student Aid

Office of Management and Budget (OMB) OMB

Office of the Comptroller of the Currency (OCC) OCC

Postal Inspection Service Postal Inspection Service

Public Housing Authority (PHA) PHA

Securities and Exchange Commission (SEC)

SEC

Selective Service System Selective Service System

Small Business Administration (SBA) SBA

Social Security Administration (SSA) SSA

United States Citizenship and Immigration Services Bureau (USCIS)

USCIS

USA

Veterans Administration VA


English Chinese

Veterans' Employment and Training Service (VETS)

VETS

veterans service organization (VSO) VSO

Women's Bureau


Commonly used phrases and words TABLE 6: PHRASES

English Chinese

Mission: help consumers 62+ to get the financial education and training they need to:

62

OAA Definition: Financial exploitation is the fraudulent or otherwise illegal, unauthorized, or improper actions by a caregiver, fiduciary, or other individual in which the resources of an older person are used by another for personal profit or gain; or actions that result in depriving an older person of the benefits, resources, belongings, or assets to which they are entitled.

OAA

pay to play pay to play

prevent unfair, deceptive and abusive practices aimed at seniors

senior designations senior designations

standard maximum deposit insurance amount (SMDIA)

SMDIA

state health insurance assistance program SHIP

submit a complaint

trustees under a revocable living trust trustees under a revocable living trust

who are we? (used for About us)


TABLE 7: TITLES

English Chinese

Managing Someone Else's Money

Money Smart for Older Adults Money Smart for Older Adults

My Social Security My Social Security

Ready, Set, Save!

Managing Someone Else's Money

TABLE 8: WORDS

English Chinese

abusive practice

account number

Accountants

accrued charges

accrued interest

accumulated interest

actual cash value

actual earnings

additional fees

Additional Living Expenses (ALE) ALE

add-ons


English Chinese

adjustable rate

adjustable rate mortgage

adjustments

advance

advance bill

advance directives

advance filing

advance payment

advisor/adviser

affinity fraud

agent (general, should be qualified)

aggressive lending practices

agreement in writing

aid (help)

aid and attendance aid and attendance

alert

allegation of fraud

allowance for bad and doubtful debts

allowed amount

alternative mortgage loan (AML)


English Chinese

amortization

annual fee

annual interest

annual percentage rate (APR) APR

annual return

annual statement

annualized average of monthly loan balance

annuities annuities

anti-fraud

appraisal

area code

arrears

Ask CFPB CFPB

assessed value

assets

assisted living facility

asymmetric information

at premium

ATM ATM

ATM card ATM


English Chinese

attorney-in-fact attorney-in-fact

authorization form

authorized representative

auto insurance

automatic bill pay system

available assets

available credit

average yearly earnings

average yield

avoidance of tax

background check

backing assets

bad borrower

bad check

bad debt

balance carried forward

balance sheet

balloon payment balloon payment

bank accounts and services

bank charges


English Chinese

annual percentage rate (APR) APR

annual return

annual statement

annualized average of monthly loan balance

annuities annuities

anti-fraud

appraisal

area code

arrears

Ask CFPB CFPB

assessed value

assets

assisted living facility

asymmetric information

at premium

ATM ATM

ATM card ATM

attorney-in-fact attorney-in-fact

authorization form

authorized representative

auto insurance

automatic bill pay system

available assets


English Chinese

available credit

average yearly earnings

average yield

avoidance of tax

background check

backing assets

bad borrower

bad check

bad debt

balance carried forward

balance sheet

balloon payment balloon payment

bank accounts and services

bank charges

bank statement

bank transfer

bankruptcy

base rate

become effective

below-market interest rate

best lending rate

Better Business Bureau Better Business Bureau

bill (as in to pay, not legislation)

bill on demand/bill payable on demand

billing statement

blank check

bogus transaction

bonds

borrower

borrowing cost

bounced check

break-even

broker

business days

buy on credit


English Chinese

Capital Advance Program Capital Advance Program

capital appreciation

capital assets

capital gains

capital gains tax

capital loss

card provider

Card Validation Code (CVC) CVC

cardholder agreement cardholder agreement

case number (for complaints)

cash

cash advance

cash advance fee

cash card

cash rebate

cash withdrawal

cashier's check

catastrophic coverage

catastrophic illness

certificate of deposit (CD) CD

certified check

certified financial planner (CFP) CFP

certified public accountant (CPA) CPA

change of residence

charges (preferred)

charity appeals

check stub

checkbook

checking account

Child and Adult Care Food Program (CACFP) Child and Adult Care Food Program

claim

class-action lawsuit

clean credit

closing costs


closing date

cognitive decline

coinsurance

collateral

collateralized loan

collateralized loan obligation (CLO) CLO

collateralized mortgage obligations (CMO) CMO

collect (bring in revenue)

collect (demand payment)

company

company response (to complaint)

compensation

complaint

compound interest

computer and internet scams

confidentiality

confirmation letter

consent

consumer

consumer Tell Your Story submission

consumer behavior

consumer complaint database

consumer financial products and services

consumer financial service

consumer loan

contractual agreement

contractual obligation

co-pay; co-payment

corporate accountability

corporate regulation

cost of borrowing

costs

court costs

Coverdell education savings accounts

credit card

credit card number


credit counseling

credit history

credit insurance

credit life insurance

credit limit

credit line

credit rating

credit report

credit report dispute

credit reporting agency

credit score

credit union

current asset

current market value

custodian

Customer Outreach Program Customer Outreach Program

date of maturity

debit card

debt collection

debt collector

debt limit

debt relief

debt repayment

debt settlement

debt settlement company

debt-to-income ratio

deceptive

deductible

deed

default

default in loan

default interest

default risk

deferment


deflation

delayed payment

delinquent (payments)

deposit

deposit insurance system

deposit slip

depositor

depreciation

derivatives

determined period of time

devaluation

direct deposit

Direct Loan Program Direct Loan Program

disclaimer

diversified portfolio

door-to-door salespersons

driver's license

drug plan

due process of law

durable power of attorney

earned income tax credit

earnings

eldercare locator Eldercare Locator

elderly

eligibility requirements

email

employee benefits

employee contribution

employee savings plan

employer

employer contribution

employer health plan

employment

empower

enter into force

equity value


escalation clause

escape clause

escrow

escrow account

escrow deposit account escrow deposit account

escrow funds

estate [real estate vs. inherited assets]

estate tax

expenses

explanations of benefits (EOB) EOB

Fair Housing Assistance Program (FHAP) FHAP

fair market price

fair value

false or misleading information

false representation

federal consumer protection law

federal student loan

fiduciary fiduciary

fiduciary duties

financial aid office

financial autonomy

financial crime

financial disclosure

financial hardship

financial institutions

financial legislation

financial obligation

financial planner

financial planning

financing package

fiscal year

fixed cost

fixed rate

fixed rate mortgage

flexible spending account (FSA) FSA

floating mortgage


food stamps (Supplemental Nutrition Assistance Program or SNAP)

SNAP

forbearance

foreclosure foreclosure

foreign citizens

forgiveness of debt

free authorized housing counselor

free lunch

full faith and credit full faith and credit

good faith estimate GFE

grace period

gross revenue

guaranteed asset protection (GAP) insurance GAP

guardians of property or conservators guardians of property or conservators

hackers

hardship case

health benefits

health care power of attorney health care power of attorney

health coverage tax credit

health insurance

Health Insurance Credit Eligibility Certificate Health Insurance Credit Eligibility Certificate

Health Insurance Credit for Eligible Recipients Health Insurance Credit for Eligible Recipients

health insurance policy

health reimbursement account (HRA) health reimbursement account

health savings account (HSA) health savings account

holding period

home

home equity

home equity line of credit (HELOC) home equity line of credit

house


household

housing allowance

Housing Assistance Payments (HAP) contract HAP

housing counseling agency

HUD-approved housing counselor

hyperlink

identity theft

impartial advice

impersonation impersonation

income (gross)

income (net)

income tax

incoming mail

indebtedness

individual retirement account (IRA) IRA

individual retirement arrangement individual retirement arrangement

individual taxpayer identification number ITIN

Individuals and Household Programs [offered by FEMA]

inflation

inheritance

initial fee

installment

insurance policies

intangible assets

interest

interest holder (in property)

interest on loan

interest rate

interest-free loan

investment

investor(s)

issue (a check)

keep records

late charge


late payment

lender lender

lending institution

lessee, tenant

lessor

liabilities

lien

life annuity

life insurance policy

limited distribution

live discussion

loan

loan application

loan modification

loan origination fees

loan repayment

loan shark

long-term care

long-term care ombudsman program

low income

lump-sum

make payment

market value

maturity (finance)

May Is Older Americans Month

Medicaid Medicaid

Medical Assistance Program

Medicare Medicare

Medicare approved drug discount cards

Medicare Catastrophic Coverage Medicare Catastrophic Coverage

Medicare Prescription Drug Plan Medicare Prescription Drug Plan

Medicare Prescription Drug Program Medicare Prescription Drug Program


Medicare summary notices (MSN) MSN

meet requirements

minimum payment

minimum wage

miscellaneous expenses

mobile banking

money order

money transfer

monthly balance

monthly payments

monthly premium

more information (used for learn more)

mortgage

Mortgage broker

mortgage credit

mortgage interest

mortgage loan

mortgage points

mortgagee

mortgagor

multi-level marketing (MLM) MLM

mutual fund

National Do Not Call Registry National Do Not Call Registry

National Flood Insurance Program (NFIP) NFIP

Naturalization Certificate

net earnings

net income

net liabilities

net profit

newsletter fund

nominal value

nonwork day

notarization

notary public


nursing care

nursing home nursing home

old age pension

older Adult(s)/older American/seniors

older American

origination

out-of-network healthcare provider

out-of-pocket limit

outstanding balance

outstanding loan

overdraft [noun]

overdrawn [adj]

password

pay as you go basis

payable in advance

payment by installment

payment plan

penalty for premature withdrawal

penalty for underpayment

pension

pension plan

personal expenses

personal identification numbers PIN

phishing

Plan to Achieve Self-Support (PASS) Plan to Achieve Self-Support

please notify us

policy (insurance)

policy number

policy period

Ponzi schemes

portfolio

postal money order

power of attorney power of attorney

pre-approved

premature withdrawal


premium (insurance premium)

prepaid card

prepayment

prepayment penalty

pre-qualified

Pretax

primary insurance amount (PIA)

principal (context: financial)

principal (context: power of attorney)

principal place of business

privacy policy

promissory note promissory note

proof of credit (for credit rating purposes)

proof of identity

property

property improvement loan

property tax

property valuation

pyramid selling

qualified

Qualified Medicare Beneficiaries (QMB) QMB

real estate

real estate salesman

receipts

recover or recoup

redlining

redeem a bond

refinancing

remittance transfer

remuneration

rent [noun] [as verb]

renter

repayment of principal


reportable income

representative payee

residential property (home)

residential rental property

residents of long-term care facilities

retail installment sales contract

retirees

retirement

retirement income

retirement income ceiling

retirement insurance

retirement or pension plan

returned check

reverse mortgage reverse mortgage

salary

sales tax

savings account

savings and loan

savings association

savings bond

scam artists

scammer

scams

school bonds

secured credit card

securities

send money abroad

Senior Medicare Patrol (SMP) program SMP

senior(s)/older adults/older Americans

shareholder

shares (stock)

sheriff

short sale short sale

social security social security

social security benefits

Social Security contribution


social security number (SSN) SSN

Social Security Statement

software

spam spam

Special Veteran's Benefits (SVB) Special Veteran's Benefits

Specified Low Income Medicare Beneficiary (SLMB)

Specified Low Income Medicare Beneficiary

spoofing

stagnation

state

State Childrens Health Insurance Program (SCHIP)

SCHIP

State Insurance Agency State Insurance Agency

stock dividends

stocks

student loan

submission (when a complaint is received by CFPB)

subprime loan subprime loan

supplemental security income (SSI) SSI

Supplementary Medical Insurance (SMI) Supplementary Medical Insurance

supporting documents

surcharge

sweepstakes sweepstakes

tangible assets

tangible personal property

tax benefit

tax bracket

tax counseling for the elderly

tax dispute

tax evasion

tax exemption

tax liability

tax payer


tax rate

tax relief

tax return

tax withholding

taxable

taxable income

taxable investment accounts

tax-exempt income

taxpayer identification number TIN

Temporary Assistance for Needy Families (TANF) TANF

terms and conditions

text message(s)

third parties

third party liability

title

title service fees

to dispute the response (for complaints)

to refer

to your knowledge

toll free

Treasury bond

Treasury note

trust account

trustees

tuition

underpayment

underwriter (securities)

unjust practice

unpaid balance

untaxed (before taxes)

untaxed (tax free)

VA fiduciary VA fiduciary

variable rate mortgage

vehicle (or auto) loan


veterans' benefits

voice prompts

Wall Street

web pages

website

winnings

wire transfer

withdraw

working day

working hours

year to date

yield to maturity (bonds)

ZIP code

Table of contentsIntroductionGlossaryCFPB Divisions and OfficesLegislationFrequently referenced organizationsCommonly used phrases and words

the cfpb’s glossary of english- chinese financial terms · the cfpb offers a number of other...

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