And banks said they had stopped making it harder to obtain consumer loans.

The interest payments on mortgages and most other consumer loans are at 10 percent or more.

Beneficial officials said the bank takes in commercial deposits, but does not make consumer loans.

Neither commercial nor consumer loans are any longer limited by bank reserves.

Lower borrowing rates on many consumer loans are expected as a result of the rate reduction.

The state now leads the nation in the rate of delinquent consumer loans (6.12 percent).

In recent years, however, banks have begun linking more of their consumer loans to the prime rate.

As a result, interest on most mortgages and consumer loans remains above 10 percent.

They usually do business with those who cannot get more money from banks, legitimate consumer loans, or credit cards.

Interest rates for many consumer loans are based on the prime rate.