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    COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JULY 23, 2024

    Tuesday, July 23, 2024 | 08:55am

    NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 12.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 8.50 percent as published by the Federal Reserve on July 22, 2024.

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