Tennessee · 114th Regular Session (2025-2026) · Bill

SB 694: Interest Rates - As enacted, increases, from 30 to 36 percent per annum, the maximum permitted effective rate of interest that may be contracted for by an industrial loan and thrift company on an unpaid balance where the amount financed is $100 or more; makes other related changes. - Amends TCA Title 45, Chapter 5.

Enacted Last action April 8, 2025: Pub. Ch. 70

Plain-language summary

SB 694 is a bill introduced in the Tennessee Senate on February 3, 2025. According to its official title, it concerns: Interest Rates - As enacted, increases, from 30 to 36 percent per annum, the maximum permitted effective rate of interest that may be contracted for by an industrial loan and thrift company on an unpaid balance where the amount financed is $100 or more; makes other related changes. - Amends TCA Title 45, Chapter 5. Primary sponsor: Johnson. Most recent recorded action (April 8, 2025): Pub. Ch. 70.

Sponsors

Primary sponsor: Johnson.