• Commissioner Gonzales Announces Weekly Formula Rate April 25, 2017

    Tuesday, April 25, 2017 | 10:48am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on Aprill 24, 2017.

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  • Issues an Enforcement Action Against Ocwen Loan Servicing, LLC

    Thursday, April 20, 2017 | 2:37am

    Nashville – The Tennessee Department of Financial Institutions (“Department”) issued today an enforcement action against Ocwen Loan Servicing to prohibit the company from acquiring new mortgage servicing rights or originating mortgage loans in Tennessee until it provides the Department with a plan to demonstrate an ability to operate in a sound manner. The action is in conjunction with other actions by regulators around the country.

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  • Commissioner Gonzales Announces Weekly Formula Rate April 18, 2017

    Tuesday, April 18, 2017 | 1:38pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on April 17, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate April 11, 2017

    Tuesday, April 11, 2017 | 2:02pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on Aprill 10, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate April 4, 2017

    Tuesday, April 04, 2017 | 4:44pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on Aprill 3, 2017.

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Tuesday, April 04, 2017 | 4:38pm

    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 May, 2017 is 7.0 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 3.0 percent.

    Board of Parole |Financial Institutions |Formula Rates

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  • Commissioner Gonzales Announces Weekly Formula Rate March 27, 2017

    Monday, March 27, 2017 | 4:00pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on March 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 March 21, 2017

    Tuesday, March 21, 2017 | 9:35am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on March 20, 2017.

    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 March 14, 2017

    Tuesday, March 14, 2017 | 10:00am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on March 13, 2017.

    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 Maximum Effective Rate of Interest

    Tuesday, March 07, 2017 | 2:42pm

    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 April, 2017 is 7.03 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 3.03 percent.

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  • Commissioner Gonzales Announces Weekly Formula Rate March 7, 2017

    Tuesday, March 07, 2017 | 2:40pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on March 6, 2017.

    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 February 28, 2017

    Tuesday, February 28, 2017 | 9:20am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on February 27, 2017.

    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 February 22, 2017

    Tuesday, February 21, 2017 | 9:38am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on February 21, 2017.

    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 February 14, 2017

    Tuesday, February 14, 2017 | 1:09pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on February 13, 2017.

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  • Fileless, 'Nearly Invisible' Malware Reportedly Infecting At Least 140 Banks, Organizations Globally

    Monday, February 13, 2017 | 10:49am

    Fileless malware is going mainstream, as financially motivated criminal hackers mimic their nation-sponsored counterparts, Kaspersky Lab reported Wednesday.

    Two years ago, researchers at the lab discovered their corporate network was infected with malware that resided solely in the memory of the compromised computers, a feat that allowed the infection to remain undetected for six months or more. Kaspersky eventually unearthed evidence that Duqu 2.0, as the never-before-seen malware was dubbed, was derived from Stuxnet.

    According to the lab, networks belonging to at least 140 banks and other enterprises have been infected by malware that relies on a fileless, in-memory design to remain nearly invisible. Because infections are so hard to spot, the actual number is likely much higher.

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