CFPB Says Consumers Must Know Risks As Libor Nears End

By Al Barbarino (October 20, 2021, 6:51 PM EDT) -- The Consumer Financial Protection Bureau urged financial institutions on Wednesday to make sure their disclosures around the imminent end of Libor help consumers understand how their interest rates will be calculated in the future.

The CFPB, along with four other federal and state financial regulators, issued a three-page statement on Wednesday highlighting the risks associated with the transition away from the benchmark London Interbank Offered Rate. But the bureau went further with an accompanying announcement focused on consumer protections.

"Consumers may not know when the transition from Libor will occur or how institutions will calculate their interest rates if they do...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!