COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JUNE 4, 2024
Tuesday, June 04, 2024 | 03:25pm
NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 12.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 8.50 percent as published by the Federal Reserve on June 3, 2024.