Louis Hernandez Jr. is CEO of Open Solutions. Contact 860-815-5000 or opensolutions.com/contact-us

Credit unions have a long and rich heritage of serving as trusted financial intermediaries for Main Street America. But the overwhelming burden of broad-stroke financial regulations and their attendant compliance costs have severely threatened credit unions’ ability to do what they do best, driving economic growth and stability in their local communities.

America’s policy makers seem unaware of the adverse relationship between the policies they have created and the economic vitality that credit unions bring to their communities. In an attempt to de-risk the banking industry, stabilize the economy, create jobs and protect the consumer, our post-crisis policies have undermined all of these areas while creating a growing disconnect between Wall Street excess and Main Street responsibility.

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