COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE NOVEMBER 29, 2022
Tennessee Department of Financial Institutions Commissioner 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 November 28, 2022.
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