Home loans are the ammunition for Sanwa Bank's drive to capitalize on California's rebounding economy and apprehension over recent bank mergers.

The Los Angeles bank this week slashed the rate on its home equity credit line to below 6% and blanketed the state with a mailing to tout its lower rates. Some 250,000 pieces were sent out - 50,000 to Sanwa Bank customers and 200,000 to prequalified California residents.

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