WASHINGTON -- A prominent legislator has stepped up pressure to close a "huge regulatory gap" and bring mortgage banks under Community Reinvestment Act standards, like those that banks and thrifts now face.

"The mortgage marketplace has changed dramatically over the last two decades. But the laws governing that marketplace have not," said Rep. Joseph P. Kennedy 2d, D-Mass. at a hearing of the subcommittee on consumer credit and insurance of the House Banking Committee on Wednesday.

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