The CFPB issued an Interim Final Rule related to the LIBOR transition updating the CFPB’s previous 2021 LIBOR Transition Rule to make changes consistent with the Adjustable Interest Rate Act of 2021 (LIBOR Act), the changes include 1) conforming the terminology used to identify the replacement indices and 2) adding an example of a 12-month LIBOR tenor replacement index that meets certain standards in Regulation Z.
