The Libor gets its name from the London Interbank Offered Rate, from the City of London, one of the largest financial centres in the world. The London Interbank Offered Rate is the average interest rate estimated by leading banks in London that the average leading bank would be charged if borrowing from other banks. It is usually abbreviated to Libor (/ËlaÉªbÉr/) or LIBOR, or more officially to ICE LIBOR (for Intercontinental Exchange Libor).
Equifax (NYSE: EFX) is a global leader in consumer, workforce and commercial information solutions, that provides businesses of all sizes and consumers with insight and information they can trust.
Executives at Equifax, Trans Union and Experian acknowledged the breach to Bloomberg in a report published Tuesday. Tim Klein, a spokesman for Equifax, told the news agency that a hacker gained fraudulent and unauthorized access to at least four consumer credit reports at the credit reporting agency.