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Transitioning Away from LIBOR: Preparation & Practicalities

Aug 15 2:00 PM - Aug 15, 2022 3:30 PM
Aug 15, 2022 2:00 PM - 3:30 PM
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Why is LIBOR being phased out? What should replace it? Do you need a transition plan? Which loans are affected? Join this timely session to learn the answers to these questions and more!

Learning Objectives

  • Understand why the LIBOR index is being phased out
  • Properly identify a replacement index for your institution’s LIBOR-based credit products
  • Establish a transition plan for your LIBOR-based credit card products
  • Appropriately update your home equity line of credit application disclosures
  • Prepare the subsequent disclosures required in connection with adjustable-rate mortgage loans

The London Interbank Offered Rate (LIBOR) index is tied to several credit products, including credit cards, home equity lines of credit, and adjustable-rate mortgage loans. Due to irregularities in the behavior of the index over the past several years, the one-month, three-month, six-month, and one-year LIBOR indices will cease publication in June 2023.Last year, the CFPB issued a final rule to help financial institutions facilitate the transition away from the LIBOR index. This webinar will explain components of that rulemaking, including factors to consider when identifying a replacement index and transition requirements for credit cards, HELOCs, and adjustable rate mortgage loans.

Agenda

Speakers

Michael Christians, Michael Christians Consulting, LLC

As principal of Michael Christians Consulting, LLC, Michael assists financial institutions and organizations across the country with ensuring their compliance programs conform to federal laws and regulations. He provides counsel relative to current rules, assists with the strategic implementation of upcoming regulatory changes and offers customized education and training services.

Michael has more than two decades of experience in the financial services industry with a primary focus on consumer compliance. He obtained his Juris Doctorate from Drake University Law School. He is a member of the Iowa State Bar where he is licensed to practice law.

Location

Fees

$259.00 

Your registration includes unlimited locations, making it easier to share and learn with remote staff.

Please note: You may share the link with others at your credit union, however the confirmation will be sent to one primary contact at your credit union. It will be up to the primary contact to share the material with others.

Additional Info

Event Type

On-Demand Webinar

Topics Covered

  • On-Demand Webinars
  • Lending & Collections
  • Compliance