Eliminating the credit union tax exemption wasn't at the top of the Independent Community Bankers of America's legislative priorities list for this year, but it did rank higher than the protection of the banking industry's own pass-through Subchapter S tax exempt charter.

The ICBA announced its annual priorities Wednesday during its annual convention in Las Vegas, which it said has drawn more than 3,300 attendees.

Like legislative priorities released earlier this year by credit union trade associations, the ICBA's list is heavy on regulatory reform. The community bankers' reg relief wish list includes exempting banks with $50 billion or fewer assets from Basel III capital requirements, reforms to Consumer Financial Protection Bureau regulations on mortgages and mortgage servicing, consistent standards in evaluating fair lending practices and examination reform.