On Tuesday, House Republicans called for the rollback of myriadfederal rules and tighter restraints on regulatory agencies,including the NCUA.

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The overhaul of the federal government regulatory infrastructurewas contained in the House GOP's latest installment of its A BetterWay agenda.

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“It is time for Congress to take greater responsibility forfederal regulations,” the Republicans said.

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In the 57-page document, they continued, “Regulatory costs oncredit unions have increased by $2.8 billion since Dodd-Frank wasadopted, with a disproportionate cost being borne by credit unionswith less than $100 million in assets. Many regulations designedfor big banks are also applied to small community banks or creditunions, imposing compliance costs that many find unbearable.”

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They added smaller institutions do not have a large compliancestaff.

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The Republicans went on to endorse already introducedlegislation that would allow regulators to tailor their rules based on a bank or credit union's size. Theyalso endorsed legislation that would provide financial institutionswith greater ability to appeal or oppose exam findings withoutrisking retaliation.

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In addition, the Republicans endorsed already introducedlegislation that would require the NCUA to publish its budget andhold a hearing on the plan.

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The plan also includes many provisions of the Dodd-Frankoverhaul unveiled last week by House Financial Services Chairman JebHensarling (R-Texas). Those provisions included making the CFPBsubject to annual appropriations and establishing a commission tooversee the agency.

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The Republicans also called for legislation that would create anannual regulatory budget for each agency and require agencies toseek approval to exceed their ceiling.

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The GOP leadership also promised to unveil legislation thatwould relieve the fintech community of regulations it identifies asburdensome.

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The proposals are unlikely to be enacted into law this year.Many of the proposals remain pending in the House, while some thathave passed the House are stalled in the Senate.

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