• Commissioner Gonzales Announces Weekly Formula Rate December 28, 2016

    Tuesday, December 27, 2016 | 7:30am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on December 27, 2016.

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  • Commissioner Gonzales Announces Weekly Formula Rate April 26, 2016

    Tuesday, April 26, 2016 | 10:09am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.50 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.50 percent as published by the Federal Reserve on April 25, 2016.

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