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.
The FTC isn't the only federal agency looking closely at the Equifax incident. The Consumer Financial Protection Bureau has also said it is looking into the company's response to the breach. On the Hill, the leading members of the House's Energy and Commerce, Financial Services and Judiciary committees have all called for hearings on the matter.