COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JANUARY 22, 2025
Wednesday, January 22, 2025 | 09:30am
NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.50 percent as published by the Federal Reserve on January 21, 2025.