Tennessee Code Annotated
Tenn. Code Ann. § 47-14-104 (2026)
Single payment loans
✓ current as of May 2026
- (a) Notwithstanding this or other statutes, for all single payment loans for a term of one (1) year or less, in an original principal amount of one thousand dollars ($1,000) or less:
- (1) The maximum effective rate of interest shall be that rate fixed, from time to time, as fair and reasonable, by rule adopted by the commissioner of financial institutions, but in no event to exceed ten percent (10%) per annum; and
- (2) A loan charge may be exacted at a rate not to exceed seven dollars and fifty cents ($7.50) on the first one hundred dollars ($100) of principal and one dollar and fifty cents ($1.50) per one hundred dollars ($100) of principal thereafter, up to a maximum of twenty dollars ($20.00) for any loan; provided, that no such loan charge may be assessed upon the renewal of any such loan.
- (b) The commissioner shall adopt reasonable rules and regulations to prevent abuses in the collection of interest, loan charges, and any other charges made in connection with or in relation to such single payment loans.
Acts 1979, ch. 203, § 3.
Notes of Decisions
Cited in 12
cases, 1968–1998 · leading case: Cumberland Capital Corp. v. Patty, 556 S.W.2d 516 (Tenn. 1977).
Cumberland Capital Corp. v. Patty, 556 S.W.2d 516 (Tenn. 1977). “That this was the evident intent of the legislature may be gleaned from the fact that Section 47-14-104, T.C.A., the general law regulating interest fixes both a legal and a conventional rate and excepts Industrial Loan and Thrift Companies from the application of the…”
Lien v. Couch, 993 S.W.2d 53 (Tenn. Ct. App. 1998). “§ 47-18-104(b)(10) (advertising goods with intent not to supply reasonably expectable public demand, unless the advertisement discloses a limitation of quantity); Tenn.Code Ann. § 47-14-104(b)(21) (employing bait and switch advertising); and Tenn.”
Cont'l Bankers Life Ins. Co. of the South v. Bank of Alamo, 578 S.W.2d 625 (Tenn. 1979). “T.C.A. § 47-14-104. The illegal act of usury dispells, as a matter of law, any claim of equity in favor of the Bank of Alamo.”
Riverside Park Realty Co. v. Fed. Deposit Ins., 465 F. Supp. 305 (M.D. Tenn. 1978). “T.C.A. § 47-14-104. The note involved in this case provided that interest would be charged at the rate of ten percent per annum calculated on a 360-day basis.”
Gunther v. White, 489 S.W.2d 529 (Tenn. 1973). “Although interest charges are subject to strict regulation, and to that end we have both constitutional and statutory provisions in regard thereto, Constitution of the State of Tennessee, Article XI, Section 7; Section 47-14-104 T.C.A., interest charges which are within the…”
Fed. Deposit Ins. Corp., as Liquidator for the Hamilton Nat'l Bank of Chattanooga v. Lattimore Land Corp., 656 F.2d 139 (5th Cir. 1981). “art XI, § 7; former Tenn.Code Ann. § 47-14-104. There was no contention in the district court nor on this appeal that the interest was usurious under Georgia law.”
Wilson v. Dealy, 434 S.W.2d 835 (Tenn. 1968). “] T.C.A. § 47-14-104 defines usury by stating that "The amount of said compensation shall be at the rate of six dollars ($6.”
Ferguson v. Elec. Power Bd. of Chattanooga, Tenn., 378 F. Supp. 787 (E.D. Tenn. 1974). “7; TCA § 47-14-104) and in violation of the federal' Truth In Lending Act ( 15 U.”
Aztec Props., Inc. v. Union Planters Nat'l Bank of Memphis, 530 S.W.2d 756 (Tenn. 1975). “T.C.A. § 47-14-104. A defendant sued for money may avoid the excess over legal interest, by a plea setting forth the amount of the usury.”
Provident Life & Accident Ins. Co. v. Few, 560 S.W.2d 407 (Tenn. 1978). “The petitioner also insists that the Court of Appeals erred in allowing the respondent interest of eight percent on the unpaid benefits, in that the award of interest amounts to a penalty.”
Vaughn v. Am. Heritage Life Ins. Co., 573 S.W.2d 165 (Tenn. Ct. App. 1978). “Plaintiff is entitled to interest at 6% upon the recovery from the date of accrual of her right to sue until the date of judgment, T.C.A. §§ 47-14-104, 47-14-107, and at 8% from the date of judgment until paid, T.”
Brabson v. Valentine, 804 S.W.2d 451 (Tenn. Ct. App. 1990). “T.C.A. § 47-14-104. The illegal act of usury dispels, as a matter of law, any claim of equity in favor of the Bank of Alamo.”
— Tenn. Code Ann. § 47-14-104(b)(21) — 1 case
Lien v. Couch, 993 S.W.2d 53 (Tenn. Ct. App. 1998). “§ 47-18-104(b)(10) (advertising goods with intent not to supply reasonably expectable public demand, unless the advertisement discloses a limitation of quantity); Tenn.Code Ann. § 47-14-104(b)(21) (employing bait and switch advertising); and Tenn.”
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