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Commissioner Gonzales Announces Weekly Formula Rate June 27, 2017

Tuesday, June 27, 2017 | 10:15am

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 June 26, 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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Gonzales attended the Governors' Bill Signing Ceremony of the Tennessee Broadband Accessibility Act in Brownsville Tuesday, May 16 2017

Thursday, May 25, 2017 | 3:38pm

NASHVILLE – On Tuesday, May 16th, Tennessee Gov. Bill Haslam signed the bill for the Tennessee Broadband Accessibility Act at H&R Agri-Power in Brownsville. Haslam was joined by Senate Majority Leader Mark Norris (R-Collierville), Sen. Mike Bell (R-Riceville), Rep. David Hawk (R-Greeneville) and Brownsville Mayor Bill Rawls. Several state, county and city officials were also present.

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