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In a letter Monday, NAFCU Vice President of Legislative Affairs Brad Thaler thanked House Small Business Committee Chairman Steve Chabot, R-Ohio, for his comments on the regulatory burden on credit unions during a recent interview on the Fox Business Network.

During his interview, Chabot said "Legislation that was passed early in the Obama administration called Dodd-Frank has put a whole new level of bureaucracy on the banks and credit unions so it's tougher for them to loan money to businesses so they can either get started to begin with or expand and create more jobs."

"We appreciate your recognition of the mounting regulatory burdens our nation's credit unions face and look forward to continuing to work with you to find ways to enact meaningful regulatory relief," Thaler wrote. "As a member of the Task Force on Reducing Regulatory Burdens you have a tremendous opportunity to improve the regulatory environment for American small businesses like credit unions. As the Task Force undertakes this important task, please know that NAFCU stands ready to assist you in your efforts."

NAFCU President and CEO Dan Berger met with Chabot in February to discuss credit unions' member business lending efforts and regulatory relief.

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.