COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JANUARY 14, 2020
NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.75 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.75 percent as published by the Federal Reserve on January 13, 2020.