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Commissioner Gonzales Announces Weekly Formula Rate June 20, 2017

Tuesday, June 20, 2017 | 1:01pm

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 June 19, 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 May 16, 2017

Tuesday, May 16, 2017 | 9:25am

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 15, 2017.

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