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NAFCU Vice President of Legislative Affairs Brad Thaler last night urged the House Judiciary Committee to approve H.R. 1155, the "Search for and Cutting Regulations that are Unnecessarily Burdensome (SCRUB) Act of 2015," upon completion of today's mark-up of the bill.

The SCRUB Act, introduced by Rep. Jason Smith, R-Mo., would establish a review process for regulations and identify those that should be repealed or amended to reduce unnecessary regulatory burdens throughout the government.

Thaler, in his letter, told the panel that the regulatory burden faced by credit unions is "immense and continuously growing."

He noted a decline of 1,800 in the number of credit unions since 2007 due to this growing burden. The addition of CFPB regulation since the financial crisis – a crisis credit unions did not cause – has added to the pressure. "Finding ways to cut down on burdensome and unnecessary regulatory compliance costs is a chief priority of our members," he wrote.

H.R. 1155 is one of five bills slated for mark-up today. Mark-up begins at 10 a.m. Eastern.