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CFPB RIN: 3170-AB01 Publication ID: Spring 2021 
Title: Amendments to Regulation Z to Facilitate Transition From LIBOR 

Millions of consumers have adjustable-rate mortgages, credit cards, student loans, reverse mortgages, home equity lines of credit (HELOCs), or other consumer products that are tied to the LIBOR index, which the UK Financial Conduct Authority has stated that it cannot guarantee publishing beyond June 2023. The Bureau’s LIBOR rulemaking is designed to facilitate compliance by open-end and closed-end creditors and to lessen the financial impact to consumers by providing examples of replacement indices that meet Regulation Z requirements. For creditors for HELOCs (including reverse mortgages) and card issuers for credit card accounts, the rule would facilitate the transition of existing accounts to an alternative index, beginning around April 2022, well in advance of LIBOR’s anticipated expiration in June 2023. The rule also would address change-in-terms notice provisions for HELOCs and credit card accounts and how they apply to the transition away from LIBOR, to ensure that consumers are informed of the replacement index and any adjusted margin. To facilitate compliance by card issuers, the rule would address how the rate re-evaluation provisions applicable to credit card accounts apply following the transition from LIBOR to a replacement index. This rulemaking will enable the Bureau to facilitate compliance by creditors with Regulation Z as they transition away from LIBOR. The Bureau issued a Notice of Proposed Rulemaking in June 2020, (NPRM) and expects to issue a final rule in January 2022.

Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 12 CFR 1026   
Legal Authority: 15 U.S.C. 1601 et seq.   
Legal Deadline:  None
Action Date FR Cite
NPRM  06/18/2020  85 FR 36938   
NPRM Comment Period End  08/04/2020 
Final Rule  01/00/2022 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Small Entities Affected: Businesses  Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Krista Ayoub
Office of Regulations
Consumer Financial Protection Bureau
Washington, DC 20552
Phone:202 435-7700