What’s Happening with LIBOR??

Back in 2019, the CFPB published information regarding the discontinuation of LIBOR, indicating that it is expected to be discontinued. On Oct. 20, 2021, the five federal financial institution regulatory agencies, including the NCUA, published a Joint Statement on Managing the LIBOR Transition. If your credit union uses LIBOR, you may find this helpful as you work on an alternative benchmark or may be working on updating any required disclosures.