On March 15, President Joe Biden signed the Consolidated Appropriations Act, 2022 – also known as the “omnibus” government funding bill – into law. The bill included the Adjustable Interest Rate (LIBOR) Act, a bipartisan bill that eases the transition away from LIBOR and received overwhelming bicameral support. SFA CEO Michael Bright applauded the signing of the legislation and stated, “This is a major victory and will prevent confusion and disruption for millions of American households and businesses.”