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INFORMATION ABOUT THE ONGOING NOVEL CORONAVIRUS OUTBREAK

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COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE APRIL 7, 2020

Tuesday, April 07, 2020 | 12:30pm

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 3.25 percent as published by the Federal Reserve on April 6, 2020.

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Pandemic Planning for State Banks, Credit Unions, and Public Trust Companies

Tuesday, March 17, 2020 | 07:45pm

As Tennessee continues to respond to COVID-19, the Department is providing general guidance and highlighting resources in an effort to help financial institutions minimize potential disruptions of services to consumers, businesses, and communities.

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