All Roll Calls
Yes: 91 • No: 30
TennesseeSB 0694114th General Assembly (2025-2026)SenateWALLET
AN ACT to amend Tennessee Code Annotated, Title 45, Chapter 5, relative to industrial loan and thrift companies.
Sponsored By: Sponsor information unavailable
Signed by Governor
Interest Rates
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Tennessee lenders face a 36% loan cap
Tennessee industrial loan and thrift companies cannot charge an effective yearly rate above 36% on loans financing at least $100. The law also removes two separate rate rules. It raises the percentage in Tennessee Code § 45-5-403(b)(1) from 10% to 12.5%, but the supplied text does not explain what that percentage measures. These changes apply to contracts or agreements entered into, amended, or renewed on or after July 1, 2025. The supplied text does not establish how much an individual borrower's costs change.
Sponsors & Cosponsors
Sponsors
There is no primary sponsor on record.
Cosponsors
Ken Yager
Republican • Senate
Roll Call Votes
House vote • 3/17/2025
FLOOR VOTE: REGULAR CALENDAR PASSAGE ON THIRD CONSIDERATION 3/17/2025
Yes: 61 • No: 26
Senate vote • 3/6/2025
FLOOR VOTE: Third Consideration 3/6/2025
Yes: 22 • No: 4
Senate vote • 2/25/2025
SENATE COMMERCE AND LABOR COMMITTEE
Yes: 8 • No: 0
Bill Text
Enrolled / Public Chapter
Fiscal Note
Introduced
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