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NAFCU Vice President of Legislative Affairs Brad Thaler reiterated the association's five tenets for a healthy regulatory environment for credit unions in a letter ahead of today's House Financial Services Subcommittee on Financial Institutions and Consumer Credit hearing, "Legislative Proposals for a More Efficient Federal Financial Regulatory Regime."

"NAFCU firmly believes that regulatory relief is needed both from Congress and the regulators to ensure credit unions have a healthy and appropriate environment that allows them to meet the needs of the nation's 110 million credit union members," Thaler said in the letter, which was sent to subcommittee Chairman Blaine Luetkemeyer, R-Missouri, and Ranking Member Lacy Clay, D-Missouri.

In the letter, Thaler outlined the association's five tenets:

• NAFCU supports a regulatory environment that allows credit unions to grow;
• NAFCU supports appropriate, tailored regulation for credit unions and relief from growing regulatory burdens;
• NAFCU supports a fair playing field for credit unions;
• NAFCU supports transparency and independent oversight of regulators; and
• NAFCU supports a strong, independent NCUA as the primary regulator for credit unions.

Thaler also expressed NAFCU's support of three bills that are on the agenda today, including relief from certain escrow requirements, CFPB TRID rule fixes and reasonable limitations on liability concerns under the Fair Credit Reporting Act.

More details on today's hearing and the bills that will be discussed can be found here.