Rep. Joseph P. Kennedy 2d, D-Mass., blasted Republican lawmakers last week for proposing to scale back regulations on banks at a time in which the industry is recording record profits.

"It is going to make it harder for people to save their money, get credit to buy a home, send their children to college, or start a small business," Rep. Kennedy said.

The Democratic lawmaker said the GOP should consider expanding laws like the Community Reinvestment Act to mortgage bankers, instead of limiting their effect on banks.

"The Republicans talk about building a road from welfare to work," he said. "What they are doing is stuffing wallets on Wall Street."

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