COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE DECEMBER 10, 2024
Tuesday, December 10, 2024 | 04:07pm
NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.75 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.75 percent as published by the Federal Reserve on December 9, 2024.