COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE APRIL 26, 2022
Nashville, TN------Commissioner of Financial Institutions Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.50 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 3.50 percent as published by the Federal Reserve on April 25, 2022.
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