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.
Most consumers arenât familiar with ChexSystems until theyâre denied a new bank account or a merchant declines to accept their check. Briefly, ChexSystems is a consumer reporting agency (CRA) that tracks your checking and savings account activity. Itâs similar to credit reporting agencies Equifax, Experian and TransUnion, which collect data on consumersâ loan and credit card history.