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    COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JULY 14, 2020

    Tuesday, July 14, 2020 | 08:26am

    NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 3.25 percent as published by the Federal Reserve on July 13, 2020.

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