COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE OCTOBER 22, 2024
Tuesday, October 22, 2024 | 09:02am
NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 12.00 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 8.00 percent as published by the Federal Reserve on October 21, 2024.