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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 June, 2022 is 6.91 percent per annum. The rate as set by the said law is an amount equal to four percentage points above the index of market yields of long-term government bonds adjusted to a thirty (30) year maturity by the U. S. Department of the Treasury. For the most recent weekly average statistical data available preceding the date of this announcement, the calculated rate is 2.91 percent. Persons affected by the maximum effective rate of interest for home loans as set forth in this notice should consult legal counsel as to the effect of the Depository Institutions Deregulation and Monetary Control Act of 1980 (P.L. 96-221 as amended by P.L. 96-399) and regulations pursuant to that Act promulgated by the Federal Home Loan Bank Board. State usury laws as they relate to certain loans made after March 31, 1980, may be preempted by this Act.

NASHVILLE--Tennessee Department of Financial Institutions Commissioner 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 May 2, 2022.

Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Bob Rolfe and Columbiad Fabrication and Aviation, LLC officials announced today the company will invest $4.8 million to expand its manufacturing operations in Henry County.

NASHVILLE – Elizabeth Foy, JD, has been appointed assistant commissioner for legislative affairs for the Tennessee Department of Health. In this role, Foy will direct and oversee the department’s legislative efforts and initiatives.

Pick Tennessee Products’ “Fill Your Grill” contest is back this year in plenty of time to plan your summer grilling menus. Winners will get to choose $200 in local meats from the Tennessee farm of their choice.

With a strong background in and commitment to the agriculture industry, Andy Holt has been appointed Assistant Commissioner for the Business Development Division at the Tennessee Department of Agriculture and special advisor to the Commissioner.

Nashville, Tenn. – The Tennessee Department of Transportation (TDOT) has come up with a plan to reduce potholes and road deterioration that often occur during the winter months. This year’s wet, wintery weather has been especially harsh and accelerated the pavement's decline in several locations. The goal of the new Enhanced Resurfacing Program is to address these concerns.

NASHVILLE, Tenn. – Today, Tennessee Governor Bill Lee announced plans to launch a third-party review of a lethal injection testing oversight that resulted in a temporary reprieve for death row inmate Oscar Franklin Smith.

NASHVILLE, Tenn. – Today, Tennessee Governor Bill Lee marked the close of the 2022 legislative session, which includes the passage of his $52.8 billion budget and full agenda as outlined during his State of the State address in February.

NASHVILLE, Tenn. – Today, Tennessee Governor Bill Lee released the following statement on the most substantive reform to education funding in more than 30 years, commending the passage of the Tennessee Investment in Student Achievement Act:

A listing of road construction activities and lane closures for 24 East Tennessee counties.

Nashville, TN— Today, the Tennessee Department of Education released a statement on the passage of the Tennessee Investment in Student Achievement (TISA) Act (SB2396/HB2143) by the Tennessee General Assembly:

A Giles County woman is charged with TennCare fraud and theft of services in connection with allegedly claiming dependents in her household so she could obtain healthcare insurance benefits through the program.