Consumer Watchdog, which describes itself as a nonpartisan, nonprofit organization, voiced concern that the Do Not Track effort would undercut a plan from the World Wide Web Consortium (W3C) to create a strict Do Not Trackstandard.
Mark Harris, chief executive of mortgage broker SPF Private Clients, explained that most mortgages track a lender's standard variable rate, or the base rate, so most are not directly affected by Libor.
Some critics said the industry's move could throw a wrench in a separate year-long effort by the World Wide Web consortium to set an international standard for do-not-track.