Joint Statement On Completing the LIBOR Transition

Joint Statement On Completing the LIBOR Transition

The Consumer Financial Protection Bureau issued a joint statement with four other federal regulatory agencies, and state bank and credit union regulators, as a reminder that use of the LIBOR index ends on June 30, 2023.

The statement reiterates the agencies’ expectations that financial institutions with LIBOR exposure should complete their transition of remaining LIBOR contracts as soon as practicable. The CFPB is urging banks and nonbanks alike to continue their efforts to adequately prepare for the sunset. Read the Interagency Statement.

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.