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The Consumer Financial Protection Bureau seeks to address challenged posed by the sunset of the London interbank offered rate at the end of 2021.June 4
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The new regulation is intended as a workaround for banks affected by the 2015 decision that created legal uncertainty for loans sold across state lines.May 29
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Fannie Mae and Freddie Mac have different timelines for the switch.May 28
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The head of the U.S. central bank said its emergency credit programs were not designed to prop businesses up over the long term.May 13
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A negative Federal Reserve policy rate is still improbable, but if it were to happen it could be a net benefit, according to a note from JPMorgan Chase.May 13
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The group that worked with the Fed to devise an alternative rate to Libor rejects criticism that the index favors megabanks.May 11
Co-ChairOutreach and Communications working group of the Alternative Reference Rates Committee
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LIBORRegulators on both sides of the Atlantic have spent the better part of three years trying to kill the London interbank offered rate. Now, they’re looking to it once again to underpin hundreds of billions of dollars in loans as they seek to rescue their economies.May 6
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If Capitol Hill plans another round of stimulus, Democrats could have more leverage to demand steps such as suspending overdraft fees or placing a temporary cap on consumer lending rates.April 1
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Most states have some kind of pricing limit on consumer loans. But proposals for a national usury law divide even Democrats, some of whom are concerned about restricting credit.March 5
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The Federal Reserve has voted unanimously to cut the interest rate 50 basis points to 1.10% effective March 4, in the first emergency rate cut since 2008.March 3
