“NCUA has been attentive to targeted rulemaking, providing credit unions with relief in the form of exemptions or tiered obligations in several areas, including the rule on liquidity and contingency funding, in which only credit unions with assets of $250 million or more must meet all provisions, or the stress testing rule, which applies only to credit unions with at least $10 billion in assets,” NCUA Public Affairs Specialist John Fairbanks said.

NAFCU, however, would like to see it be taken a step further.

“NCUA exempts small credit unions from some of its regulations; we want to [be] clear that credit unions of all assets sizes deserve relief from unnecessary rules,” NAFCU Vice President of Legislative Affairs Brad Thaler said.

A phone request for comment from Collins went unreturned as of Tuesday afternoon.

On Tuesday, the House Financial Services Committee will mark up four bills that could provide regulatory relief for credit unions. They include H.R. 3192, the Homebuyers Assistance Act, which would provide temporary safe harbor from the Truth in Lending Act/Real Estate Settlement Procedures Act integrated disclosure rule; H.R. 1941, the Financial Institutions Examination Fairness and Reform Act, which would establish an ombudsman outside of the NCUA to handle exam appeals, require that examiners provide credit unions with documentation to support exam exception write-ups and codify examinations standards; H.R. 1210, the Portfolio Lending and Mortgage Access Act, which would provide a safe harbor from certain qualified mortgage requirements for residential mortgage loans held on a mortgage originator's portfolio; and H.R. 766, the Financial Institutions Customer Protections Act, which would require federal regulators to provide a material reason for ordering financial institutions to terminate account relationships through the Justice Department's Operation Choke Point initiative.