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  • Commissioner Gonzales Announces Weekly Formula Rate December 12, 2017

    Tuesday, December 12, 2017 | 11:29am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on December 11, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate December 5, 2017

    Tuesday, December 12, 2017 | 11:18am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on September 25, 2017.

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Tuesday, December 05, 2017 | 11:09am

    The Federal National Mortgage Association has discontinued its free market auction system for commitments to purchase conventional home mortgages. Therefore, the Commissioner of Financial Institutions hereby announces that the maximum effective rate of interest per annum for home loans as set by the General Assembly in 1987, Public Chapter 291, for the month of January, 2018 is 6.78 percent per annum.

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  • Commissioner Announces Weekly Formula Rate 11/28/2017

    Tuesday, November 28, 2017 | 10:52am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on November 27, 2017. Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes.

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  • Commissioner Gonzales Announces Weekly Formula Rate November 21, 2017

    Tuesday, November 21, 2017 | 02:23pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on November 20, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate November 14, 2017

    Tuesday, November 14, 2017 | 02:19pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on November 13, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate November 7, 2017

    Tuesday, November 07, 2017 | 02:17pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on November 6, 2017.

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Tuesday, November 07, 2017 | 02:14pm

    The Federal National Mortgage Association has discontinued its free market auction system for commitments to purchase conventional home mortgages. Therefore, the Commissioner of Financial Institutions hereby announces that the maximum effective rate of interest per annum for home loans as set by the General Assembly in 1987, Public Chapter 291, for the month of December, 2017 is 6.85 percent per annum.

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  • Bank Holiday Schedule

    Monday, November 06, 2017 | 02:10pm

    In response to anticipated questions, this will serve as confirmation that Tennessee state-chartered banks may be closed on Thursday, November 23, 2017 and Friday, November 24, 2017, if they wish, provided that adequate notice is given to customers prior to the closing. Therefore, no separate notice by the bank to this office is required.

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  • Commissioner Gonzales Announces Weekly Formula Rate October 31, 2017

    Tuesday, October 31, 2017 | 02:05pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on October 30, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate October 24, 2017

    Tuesday, October 24, 2017 | 02:03pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on October 23, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate October 17, 2017

    Tuesday, October 17, 2017 | 01:59pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on October 16, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate October 11, 2017

    Tuesday, October 10, 2017 | 01:56pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on October 10, 2017.

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  • Commissioner Gonzales Announces Non-Depository Financial Institution Annual Supervision Fee For Fiscal Year 2017-2018

    Monday, October 09, 2017 | 01:54pm

    Pursuant to Tenn. Code Ann. ยง 45-1-118(i), Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today the annual supervision fee for non-depository financial institutions in fiscal year 2017-2018, effective October 16, 2017. The fee is $1,025.00 for flexible credit licensees and mortgage licensees, and $625.00 for check cashing licensees, deferred presentment licensees, premium finance licensees, industrial loan and thrift registrants, and title pledge licensees. Money transmission licensees will continue to pay licensing and examination fees as required by statute. Mortgage loan originators will continue to pay a licensing and renewal fee of $100.00 and a sponsorship fee of $100.00.

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  • Commissioner Gonzales Announces Weekly Formula Rate October 3, 2017

    Tuesday, October 03, 2017 | 01:47pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on October 2, 2017.

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