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Commissioner Gonzales Announces Weekly Formula Rate August 15, 2017

Tuesday, August 15, 2017 | 7:12am

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 August 14, 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 July 25, 2017

Tuesday, July 25, 2017 | 9:34pm

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 July 24, 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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