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Credit unions' member business lending efforts and regulatory relief issues were discussed during a meeting yesterday between NAFCU President and CEO Dan Berger and House Small Business Committee Chairman Steve Chabot, R-Ohio.

Chabot has been supportive of legislation that would raise the credit union MBL cap and, in his position as committee chairman, has held hearings looking at the role small financial institutions play in supporting the nation's small businesses. His committee also held a hearing last year on data security at which Berger shared the credit union perspective.

Chabot is also on the newly created House task force charged with easing the regulatory burden on small businesses. The task force held its first meeting last week. Berger sent a letter to task force members Chabot and House Financial Services Committee Chairman Jeb Hensarling, R-Texas, on Tuesday outlining the need for credit union regulatory relief.

"Credit unions are struggling with costs associated with compliance, stemming from the relentless regulatory burdens imposed by federal agencies, particularly those with direct jurisdiction over credit unions, including the National Credit Union Administration (NCUA) and Consumer Financial Protection Bureau (CFPB)," Berger wrote. "We urge you to work together to ultimately enact substantial regulatory relief for credit unions."