On April 6, 2021, New York Governor Cuomo signed into law legislation aimed to provide legal certainty and curb litigation as LIBOR is discontinued in favor of another fallback benchmark rate.[1] ...

The housing crisis left banks with a very messy problem. Throw in a Libor scandal and the mess gets even uglier. Homeowners in the U.S. are suing some of the world's biggest banks for fraud--not over ...

The Libor rate scandal could make banks' mortgage and foreclosure troubles look like child's play and that doesn't bode well for an industry still in recovery mode. The best case scenario is that ...

Homestretch to December 31, 2021, and the end of LIBOR? Not so fast. All the relevant regulators and other authorities clearly indicated for some time that USD LIBOR would no longer be available after ...

Whether it’s the side of the road we drive on, our preferred system of measurement or how we define “football,” America always seems to distinguish itself from Britain. Despite this, American lenders ...

For half a century the series of interest rates known collectively as the London interbank offered rate, or Libor, has helped determine the cost of all sorts of borrowing around the world. But over ...

Financial institutions and other industries globally are working to replace the London Interbank Offered Rate (LIBOR). By the end of 2021, LIBOR is expected to be phased out, which necessitates ...

This week’s Bloomberg Businessweek cover story is about Tom Hayes, a British trader convicted of manipulating Libor. The London Interbank Offered Rate is a global benchmark for the cost of borrowing.

Now is the time to transition away from the London interbank offered rate, the decades-old benchmark used to calculate the rate of interest charged on more than half of adjustable-rate U.S. home ...

About the authors: J. Christopher Giancarlo served as chairman of the U.S. Commodity Futures Trading Commission. He was previously an independent director of the American Financial Exchange, the ...

This summer marks the 10th anniversary of the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, designed to address flaws and abuses that led to the 2008-09 financial crisis.

LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...