News & Events
NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.
The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on May 22, 2017.
Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes.
- Commissioner Gonzales Announces Weekly Formula Rate May 16, 2017
- Commissioner Gonzales Announces Weekly Formula Rate May 9, 2017
- Commissioner Gonzales Announces Maximum Effective Rate of Interest on Home Loans
- Commissioner Gonzales Announces Weekly Formula Rate May 2, 2017
- Gonzales Elected as State Liaison Committee Chairman
- Issues an Enforcement Action Against Ocwen Loan Servicing, LLC
Washington, D.C. - The Federal Financial Institutions Examination Council announced today the reappointments of Greg Gonzales, Mary Hughes, and Caroline Jones to the Council's State Liaison Committee (SLC).
Greg Gonzales’ SLC nomination was first confirmed by the Conference of State Bank Supervisors (CSBS) in February 2016 to complete a partial term vacancy created by the resignation of Lauren Kingry. Today marks the beginning of Gonzales’ first two-year term, which will continue through March 31, 2019.