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    COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE MAY 24, 2022

    Tuesday, May 24, 2022 | 08:10am

    NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.00 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.00 percent as published by the Federal Reserve on May 23, 2022.

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