RALEIGH, N.C.–North Carolina’s attorney general, Josh Stein, is
urging the state’s Supreme Court to not allow a credit union to change
the terms of a contract in a case involving overdraft fees.
Stein told the Supreme Court the law limits the credit union’s ability to change a contract with a member after a member accepts the original contract and that the credit union exceeded those limits in this case.
In the case now before the state’s Supreme Court, Canteen v. Charlotte Metro Credit Union (the credit union has since changed its name to Skyla), Stein told the court the CU should not be permitted to “unilaterally” change the terms of the contract so as to prohibit the plaintiff from suing over the overdraft fees, saying Charlotte Metro/Skyla ✅ “should not be allowed to change its contract with a customer by adding new and unexpected contract terms to gain a legal and financial advantage.”
“Every dollar matters for North Carolinians working to pay bills and provide for their families,” said Stein in a statement. She deserves to have her case heard in court; ✅ companies cannot unilaterally change their contracts to strip their customers of their substantive rights.”
As the Attorney General's brief so clearly states [link to Stein's full lawsuit brief] :
" Were the rule otherwise, contract drafters could use change-of-terms provisions to add all manner of new provisions that the parties never originally contemplated, ✅ in violation of the covenant of good faith and fair dealing that the law implies into every contract."
🔆 The SECU Bylaws are the fundamental contract between the member-owners of SECU and the SECU Board. "This" Board "unilaterally" amended the SECU bylaws on June 30, 2023 to - as the N.C. Attorney General's Office states in the brief - "strip their customers [you and all SECU members!] of their substantive rights."
... Well, obviously Attorney General Josh Stein "gets it" about "good faith and fair dealing" by North Carolina credit unions... but still no word from Ms. Kristina Ray, Administrator of North Carolina Credit Unions - nor Ms. Badwan from the A.G.'s office! - on the matter.
Well, been hearing this from a few folks recently as to why they may have given up on the Blog. They thought the post exposing Leigh Brady’s texts with JCB was too much, made them uncomfortable, perhaps shift their support. Like to remind you that Mr. Blaine has posted over 200 times since this all started. One post out of 200 and you’re going to throw the towel in? You might not have posted it, heck, I might not have posted it but No One could have gotten us this far to addressing the craziness that was Jim Hayes and more importantly the current Board. NO ONE.
ReplyDeleteIf that single post made you want to stop fighting against Discriminatory Based Lending, stop fighting for the hundreds of thousands of LGEFCU members that will lose banking privileges when LGFCU declares their “Independence Day”, made you want to stop fighting against the devaluation of the branches and the consolidation of power in the Loan Administration Empire then frankly I find THAT somewhat offensive.
Ms Brady has said many of the things that employees want to hear but I would remind you of two things - first, saying and doing are two different things and secondly, the CEO is still the puppet that the current Board has used to implement their elitist policies.
Those folks opposed to the direction of SECU since last year’s Annual Meeting have traveled a long way in 10 months but the toughest battle is still in front of us. The deck is stacked against those wanting a change in direction. Every single vote will make a difference. There comes a time when everyone must accept some risk and show some courage and stand up for what they believe in - hope that’s you.
Ok, that’s today’s rant. Fire away.
At least from my perspective it wasn't a private text...and if you'll reread it, Ms. Brady chose to end the conversation and not respond. Be happy to have a public dialogue with Ms. Brady anytime on the problems confronting SECU. Got several journalists already lined up willing to host it...and live stream it!
DeleteWhat exactly is the SECU CEO willing to say in "private" which she is afraid to say publicly? Wouldn't it help you to know?
To the employees of SECU. Has your level of paranoia about your job dropped with Leigh Brady running the show? You know she has your back right? She’s going to stand up for decentralizing, returning to flat organizational structure and local decision making?She’s going to reinstate low loan rates for all members and high interest rates? She’s not going to hire a consultant for every decision? So, you are no longer paranoid and feel that you as an employee can speak truth to power— like pre this board? You as an employee can now with Leigh Brady running things really help the members get on their feet financially? Leigh Brady is out there advocating for the members? Show me one thing she has done. She couldn’t name one thing—much less 10 when Mr Blaine asked her. She never even responded. So be mad at her. She’s acting just like this board who have never responded to questions from members either.
DeleteNo, don't be mad at Leigh Brady, just ask her to do her job as CEO...to tell you and the membership the truth - now!
DeleteIs the truth going to hurt you if you ask her - now?
Bit of a tempest in a teapot going on here. Leigh and her supporters are crying private. Just a continuation of everything this board and admin wnats you all to believe. these are private matters and should not be part of public discourse. this board and admin wants to be in total control of the how you even think. there is no engagement AT ALL with members. Submit your questions ahead of time. We will edit the videos. Leigh Brady and this board's main problem is they can't edit Mr. Blaine, Mr. Lord or what 85 years of loyal, hard working employees did for the financial health of the members. Keep this discussion public. don't let them keep hiding!
DeleteNo secret leigh we already know you're joined at th hip with Gym
DeleteI personally don’t think Mr. Blaine should have shared the text and would have liked him to meet with Leigh. Mike Lord did…. So what could it have hurt…. But just because I think that doesn’t mean I think the board is in the right for what they are doing. Even if you are fine with risk based pricing and other things they did. The obvious attempts to influence the election for their nominations is sickening and is enough to vote against them.
DeleteTransparency is what this board and the credit union administration has claimed to give us ever since they were caught off guard at the Annual Meeting 2022. In the spirit of transparency, I see nothing wrong with the text from the newly appointed CEO, former CFO and legacy employee being shared on this blog. A 35 year employee who had worked closely with Jim Blaine for years, why text when a phone call would have been more personal - especially since the request being made was to garner his support for herself.
DeleteDon't think this request had anything to do with benefitting us members or those former employees who lost careers because of this Board and the Hayes Brady Administration. This member will continue to hold all those responsible and accountable for what has taken place down at my credit union. Where my money and finances are concerned, I expect honesty and that promised transparency. I am a 37 year member owner of SECU and I will be present again in October.
@11:09 - this world is full of lukewarm and fair weather friends. Some just look for an excuse to change their direction. But those who make a difference in this life are the ones who remain steadfast in their pursuit of truth for the benefit of others. Thank you Jim Blaine.
DeleteAre we really gonna whine about Blaine showing a text? Some employees are way too naive…I hate to say it. Money gun? Yacht parties? Rigged elections? Automation of thousands of jobs? Centralized all our processes which made secu tank? Jim Hayes? But yea let’s get pissed about a little text Blaine shared. Man up or woman up whatever gender you are that is still sitting on the fence. Don’t be simple minded and look for the easy way out which is to turn off your brain and eyes to see not see and think about the corruption that’s been taking a place the past 2 years. I could give a s*** about a text being shared. Look at the macro problems. This would be like getting mad at someone for not washing the dishes when someone else is burning the house!! Don’t get upset over something so minor that literally has nothing to do with grand scheme of the takeover the BOD and Leigh herself is trying to pull off at SECU.
DeleteDo you honestly think she reached out to JB for anything other than self interest? She worked how many years with him? She knows EXACTLY were he stands on the issues, but she just has her own agenda to pursue.
DeleteDoes Stein get it about the illegal absurdities in bylaw changes that wildly favor this board? How bout Ray? Where are they? Waiting until after the election to crawl out from their hiding places? Members: rely on yourselves.. don’t expect anyone to save you, including Jim Blaine. Not the employees either—-they are hiding too. Talk to everyone you know! Members are getting shafted
ReplyDeleteDear Ms. Kristina Ray, times a ticking ... hope you can find the courage to "Do the Right Thing" ...
Deletehttps://businessnc.com/secu-board-election-likely-to-be-contested/?fbclid=IwAR0f7UpwA_xyDoFPFL8F0xOZ_RLQQGpHvZoEEUFzdkD73yDTAfTVzIM6irs
ReplyDeleteOver 4000 signatures gathered in less than a week. "Where there is a will, there is way" - a proven statement once again. Thank you to every one of those 4000 SECU members, our three NEW self nominated Candidates and all the Organizers of what some thought was an unachievable task.
DeleteWe are not there yet, there still is a vote that takes place and make no mistake, they haven't thrown in the towel, my guess is they are doubling down! They will do anything for power ... ANYTHING!
DeleteI wonder if this includes adding an arbitration agreement after the fact….
ReplyDeleteDo these members really understand what this board and CEO's thinks of them? Just watch what they do ... it's ALL about them, they could care less about you. JB could have easily said, 'Hey I'm retired it's your fight now'. But he choose to Do the Right Thing, unlike this BOD and CEO's. These folks are trying to run rough shod over this membership. Don't let them push us around like we're some fools!
ReplyDeleteCan't wait to see more positive changes coming. The reorg email today is a step in the right direction in my opinion. Putting Jamie back into an executive role is a great step and we'll deserved as he should have never been removed. His heart and priorities are in the right place involving SECU and I am hopeful this is a step in the right direction.
ReplyDeleteOut of the office and haven't seen the Jamie news but would support him 100% - no hesitation in whatever role he holds. Too much to ask that this reorg involves knocking some props out of the Loan Admin Empire and Culture Dept Ruling class?
DeleteMeh. Hayes' buddy from Andrews is still chief audit officer. It's basically still the same bunch of toxic careerists.
DeleteFunny how they threw the "culture" department under the bus, though.
The good: Definitely a good move to have him back where he belongs. She will get some employee support for doing that.
DeleteThe Bad: It looks like she is sticking with Jim's choice of CIO. This will come back to bite her and the entire credit union. He is a cancer to SECU.
I remember way back when I was preparing for my loan officer interviews and one of the questions was what I would do if I witnessed something unethical going on. My answer was that I'd report it to Jamie (my manager at the time). The follow up question was "What it if was Jamie doing the unethical thing? My response was immediate laughter, which I then had to explain with a single statement - "It wouldn't be Jamie". And it wouldn't. He certainly has his work cut out for him with the way things have been going, but he's the guy you can trust in a C-Suite full of sharks.
DeleteDidn't see any remorse or apology from CEO Brady about letting the no tech lie stand about our IT department trashing everybody in it unfairly. Brady has no interest in the cu other than her own.
DeleteCEO Brady with no moral courage is trying to rearrange the deck chairs on the titanlc
Delete"Funny how they threw the "culture" department under the bus, though."
DeleteMaybe ... looks like she failed up ....
Emma Hayes is now Chief Learning and Experience Officer (previous culture Officer) and will have a "dotted-line relationship to the CEO"
Y’all better have Jamie Applequist’s back when he speaks truth to power. I assume he will do that since y’all all think he’ll do the right thing. So employees will you back up Jamie or will you still be silent because …..
DeleteInteresting timing on this announcement isn’t it? Using Jamie to garner votes. Will he allow himself to be used?
DeleteLove Jamie but both he and Leigh have sat quietly and cashed in on the misery of us and the members. They both have a decision to make money or do the right thing. I'll bet on the money even with Jamie. He's just riding it out like a lot of other llegacy senior leaders. Looks good on paper, but sorry to disappoint you, money talks.
DeleteStrongly disagree about Jamie and the money. Jamie was practically exiled under the Hayes regime, and my guess it was because he wasn't all about towing the new/new party line. He could have left, but instead he went to his corner and worked hard to make at least that into something good. Whether he can actually make enough positive impact in his new role given the current leadership is TBD, but he's good people and I have zero doubt that he will try his best.
DeleteBig whoop. Not impressed. At this point, we can only assume that Jamie is just as contaminated as the rest of the Salisbury St. crooks.
Deleteexiled at $400k a year...yeah I could be that brave too
Delete@1:25 pm. Remember what happens we assume...
DeleteThe best news I have heard in 23 long months. Very happy to hear Jamie will be back in a position with an ability to take care of the members and the employees of SECU again. Nothing can match a humble heart with a love for people in the credit union industry. Another reason to have hope for the future of this great credit union once again. I 54/17
DeleteI agree 12:57. Jamie has only ever done good things for us as far as most of us are concerned. I hear the same across the organization. Getting himself fired by Hayes would have only put us all in a worse place than we are in now. People can have sour grapes but this is a step in the right direction and I believe more will come. We have a choice to be part of the solution or just complain and I plan on digging in to help. The members and organization mean too much to sit back and arm chair quarterback. No complacency.
DeleteAfter reading this article, proud to say my vote helped to elect Josh Stein as our Attorney General. Keep fighting the good fight Mr. Stein.
ReplyDeleteHe ain't done nothing yet .... might hold the back slapping till we see something besides talk.
DeleteCan't wait to read the email tomorrow as it sounds exciting. And I agree about loan administration. Put mortgage employees back under Branch VPs and away from them. Let's get some collectors back in the branches also. Look at the numbers, it isn't working. And the office of culture still baffles me.
ReplyDeleteFolks soon the time comes to cast your ballot, don't whine and cry if you vote to allow this continued betrayal of the membership by these current Overlords AKA board members. Or miss your chance to vote because something on TV was more important that night... sometimes you have to step out of your comfort zone to do what's right for you and others who might not have it so easy. Someone has to fight for the little guy, and it ain't the 'Insiders Club'! They have shown their hand ...
ReplyDeleteWhen you cast your vote for the SECU Board of Directors between now and October think about that Six Million Dollar plus Check and ask yourself do you want Ayers, Sanford and Garland to have another chance at throwing away that much cash again? We don't.
Delete"Didn't see any remorse or apology from CEO Brady about letting the no tech lie stand about our IT department trashing everybody in it unfairly. "
ReplyDeleteShe never liked IT ..... not about to start.
Don't have to like IT, but IT keeps SECU running and has since before 1983. IT advanced and grew right along with SECU. Many talented employees over the years kept everything running and kept it all IN HOUSE. Didn't contract out to the cloud--- adapted specifically for SECU. Hayes and this board threw them all under the bus. Where is Leigh Brady? Still pursuing outsourcing? Not one of them has admitted the 1983 statement was a BOLD FACED LIE. (can't seem to bold face in comments!) One of many lies that have been told. And where is Leigh Brady? Longtime legacy employee on this?!
DeleteTechnology should not replace our local loan officers or tellers to any degree. Technology should coincide. Not replace or reduce their role to brainless work.
DeleteThat’s not technology. That’s centralization and doing away with local autonomy and decision making
Delete