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  • An Education Transformation

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    News

    COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JULY 23, 2019

    Tuesday, July 23, 2019 | 10:15am

    NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 9.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 5.50 percent as published by the Federal Reserve on July 22, 2019.

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    50 Attorneys General Secure $600 Million from Equifax in Largest Data Breach Settlement in History

    Monday, July 22, 2019 | 03:43pm

    Nashville- Attorney General Herbert H. Slatery III today announced that a coalition of 50 Attorneys General, comprising 48 states, the District of Columbia, and the Commonwealth of Puerto Rico has reached a settlement with Equifax as the result of an investigation into a massive 2017 data breach. The investigation found that Equifax’s failure to maintain reasonable security enabled hackers to penetrate its systems, exposing the data of 56 percent of American adults—the largest-ever breach of consumer data. The Attorneys General secured a settlement with Equifax that includes a Consumer Restitution Fund of up to $425 million, a $175 million payment to the states, and injunctive relief, which also includes a significant financial commitment. This is the largest data breach enforcement action in history.

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