Tuesday, April 18, 2023

H. 410 "Credit Union Updates" - How a Widows And Orphans Hustle Works

Had mentioned in a prior post that CEO Dan Schline, of the Carolinas' Credit Union League, was running a "widows and orphans" hustle within  H. 410 "Credit Union Updates".  Some folks asked what's that?

A widows and orphans clause is used in legislation to distract attention from the unsavory parts of a proposal one is pushing through.  In addition to phrases which purport to protect widows and orphans; you might also add clauses which support veterans and the flag, praise Motherhood and apple pie, salute God and Country, promise to level the playing field, and, of course, mandate lower taxes. [If you're in North Carolina, always throw in support of NASCAR and BBQ for good measure!]

 The idea is to try and "set up" your opponents as heartless, greedy, selfish folks. The type of people, who not only won't support your "fair and reasonable" bill; but, also of the type who would  put widows and orphans on the street, " diss" God and Country, hate apple pie, and are always wanting to raise your taxes. [And don't know who drove the "#3" car.] Got it?


The widows and orphans hustle in H. 410 is this part: 

(Look - an elephant!!!)  - "... any credit union organized under Articles 14A to 14L of this Chapter may also permit membership of the following located in this State: (1) Individuals and families that earn income at or below the federal poverty threshold. (2) Women-owned or minority-owned businesses. (3) Under-served areas, as defined by the Federal Credit Union Act."

So, now you are hearing Dan Schline and his accomplices implying that opponents of H. 410 are against 1) poor folks, 2) women, 3) minorities, and of course  4) folks living in our National and State Parks, bogs, swamps, riverbeds, wildlife refuges, and other generally uninhabitable places - a.k.a. to Mr. Schline as "financial deserts"!!!

         .... and while our State Legislators are "Looking Over There! 


Mr. Schline will be trying to pick our pockets by : 

  1. Removing all limitations on membership in individual credit unions, 
  2. Providing unlimited membership and commercial lending to state, regional and national corporations, 
  3. Encouraging the export of jobs and capital out of North Carolina,
  4. Abandoning North Carolina working men and women, 
  5. Further dismantling the member-owner controls over N.C. credit unions,


.... while laughing at us - and the State Legislators who support him - all the way to the ("new") bank!