COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE OCTOBER 14, 2026
NASHVILLE--Commissioner of Financial Institutions Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.00 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.00 percent as published by the Federal Reserve on October 13, 2026.