6.11.21
The Consumer Financial Protection Bureau’s (CFPB) recently published spring agenda indicates that the agency expects to issue a final rule in January of 2022 regarding LIBOR’s expiration. This follows the CFPB’s previously issued proposed rule in June of 2020 that aimed to lessen the financial impact and ease the transition to other replacement indices for market participants. The CFPB believes the continued rulemaking is “important for the millions of consumers who have adjustable-rate mortgages, credit cards, student loans, reverse mortgages, home equity lines of credit, or other loans that are tied to the LIBOR index.”