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The Senate Banking Committee announced Friday that it will hold a mark-up of "The Financial Regulatory Improvement Act of 2015" on May 21.

The mark-up is slated to begin at 10 a.m. Eastern.

Senate Banking Committee Chairman Richard Shelby, R-Ala., is expected to unveil details of the bill next week. NAFCU lobbyists believe the measure will include some regulatory relief measures specifically for credit unions and community banks.

NAFCU has urged the committee to take action on various regulatory relief measures pending before the Senate, including the "National Credit Union Administration Budget Transparency Act," introduced by members of the Senate Banking Committee Sens. Dean Heller, R-Nev., and Mark Warner, D-Va. The bill would require NCUA to provide notice of and a public hearing on its budget and invite comments.