COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE FEBRUARY 28, 2023
NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 11.75 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 7.75 percent as published by the Federal Reserve on February 27, 2023.
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