• Commissioner Gonzales Announces Weekly Formula Rate October 17, 2017

    Thursday, October 19, 2017 | 5:59pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on October 16, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

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  • Commissioner Gonzales Announces Weekly Formula Rate October 17, 2017

    Tuesday, October 17, 2017 | 9:59am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on October 16, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

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  • Commissioner Gonzales Announces Weekly Formula Rate October 11, 2017

    Tuesday, October 10, 2017 | 8:01am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on October 10, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

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  • Commissioner Gonzales Announces Non-Depository Financial Institution Annual Supervision Fee For Fiscal Year 2017-2018

    Monday, October 09, 2017 | 8:00am

    Pursuant to Tenn. Code Ann. § 45-1-118(i),  Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today the annual supervision fee for non-depository financial institutions in fiscal year 2017-2018, effective October 16, 2017.  The fee is $1,025.00 for flexible credit licensees and mortgage licensees, and $625.00 for check cashing licensees, deferred presentment licensees, premium finance licensees, industrial loan and thrift registrants, and title pledge licensees.  Money transmission licensees will continue to pay licensing and examination fees as required by statute.  Mortgage loan originators will continue to pay a licensing and renewal fee of $100.00 and a sponsorship fee of $100.00.

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  • Commissioner Gonzales Announces Weekly Formula Rate October 3, 2017

    Tuesday, October 03, 2017 | 2:11pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on October 2, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Tuesday, October 03, 2017 | 2:00pm

    The Federal National Mortgage Association has discontinued its free market auction system for commitments to purchase conventional home mortgages. Therefore, the Commissioner of Financial Institutions hereby announces that the maximum effective rate of interest per annum for home loans as set by the General Assembly in 1987, Public Chapter 291, for the month of November, 2017 is 6.82 percent per annum.

    The rate as set by the said law is an amount equal to four percentage points above the index of market yields of long-term government bonds adjusted to a thirty (30) year maturity by the U. S. Department of the Treasury. For the most recent weekly average statistical data available preceding the date of this announcement, the calculated rate is 2.82 percent.

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  • Commissioner Gonzales Announces Weekly Formula Rate September 26, 2017

    Tuesday, September 26, 2017 | 11:04am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on September 25, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

    Read full story
  • Commissioner Gonzales Announces Weekly Formula Rate September 19, 2017

    Tuesday, September 19, 2017 | 9:46am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on September 18, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

    Read full story
  • Commissioner Gonzales Announces Weekly Formula Rate September 12, 2017

    Tuesday, September 12, 2017 | 8:58am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on September 11, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

    Read full story
  • Commissioner Gonzales Announces Weekly Formula Rate September 6, 2017

    Wednesday, September 06, 2017 | 12:03pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on September 6, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

    Read full story
  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Wednesday, September 06, 2017 | 12:00pm

    The Federal National Mortgage Association has discontinued its free market auction system for commitments to purchase conventional home mortgages. Therefore, the Commissioner of Financial Institutions hereby announces that the maximum effective rate of interest per annum for home loans as set by the General Assembly in 1987, Public Chapter 291, for the month of October, 2017 is 6.74 percent per annum.

    The rate as set by the said law is an amount equal to four percentage points above the index of market yields of long-term government bonds adjusted to a thirty (30) year maturity by the U. S. Department of the Treasury. For the most recent weekly average statistical data available preceding the date of this announcement, the calculated rate is 2.74 percent.

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  • Nicole Chamblee Appointed Assistant Commissioner of Compliance Division

    Tuesday, September 05, 2017 | 11:06am

    As of September 1, 2017, Mike Igney retired from the position of Assistant Commissioner of the Compliance Division. Over the past thirteen years, under Mike’s leadership, the Compliance Division
    has grown, flourished and worked collectively to streamline processes and improve efficiencies. Mike has been a great public servant and made many contributions to the Department. He will be missed.

    However, Mike leaves the Compliance Division in good hands, Nicole Chamblee is the new Assistant Commissioner for the Compliance Division. 

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  • Commissioner Gonzales Announces Weekly Formula Rate August 29, 2017

    Tuesday, August 29, 2017 | 9:47am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4.25 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on August 28, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

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  • Commissioner Gonzales Announces Weekly Formula Rate August 22, 2017

    Tuesday, August 22, 2017 | 9:59am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4.25 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on August 21, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

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