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Commissioner Gonzales Announces Weekly Formula Rate November 14, 2017

Tuesday, November 14, 2017 | 12:34pm

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 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on November 13, 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 October 11, 2017

Tuesday, October 10, 2017 | 8:01am

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 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on October 10, 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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