Had mentioned in a prior post [link] that CEO Dan Schline, of the Carolinas' Credit Union League (CCUL), was running a "widows and orphans" hustle within H.187 "Credit Union Update". Some folks asked what's that?
😎 A "widows and orphans clause" is used in politics to distract attention from the unsavory parts of proposed legislation one is pushing.
In addition to phrases which purport to protect widows and orphans; you often also pack in clauses which support veterans and the flag, praise
Motherhood and apple pie, salute God and Country, and promise to "level the playing field". If you're in North Carolina, you always try to 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 the type of opponents who would put widows and orphans out on the street, " diss" God and Country, hate your Mother and apple pie, eat quiche and don't know who drove the "#3" car. Got it?
😎 Last year with the failed H.410 "CU Updates" bill, CCUL's widows and orphans hustle read as follows:
✱ Proposed language from failed H.410: "... 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."
There you go! with Dan Schline and the CCUL hoping to imply that opponents of H. 410 are against 1) poor folks, 2) women, 3) minorities, and of course 4) folks living in "under-served areas" - those famous "financial deserts" - which upon closer inspection are mainly national and state parks, bogs, swamps. and wildlife refuges.
✱ Proposed language in the "new" H.187 CU Update bill - that "widows and orphans" gambit - has changed to: "To facilitate the provision of financial services to under-served populations and communities, a 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) Persons residing in census tracts in North Carolina where the center of population, as defined by the United States Census Bureau, is more than 8 miles from a bank branch, as defined in G.S. 53C-1-4."
.... so once again while our State Legislators are misled with another "widow and orphans" hustle ...
😎 Mr. Schline within the H.187 bill is still trying to pick North Carolina's pockets with language which also:
- Removes all limitations on individual membership in North Carolina credit unions,
- Adds unlimited membership and commercial lending for state, regional and national corporations.
- Authorizes higher risk investment of member funds outside of North Carolina.
- Encourages the export of jobs and capital outside of North Carolina.
- Further dismantles member-owner rights and controls over N.C. credit unions.
.... while laughing at us and the State Legislature... all the way to the "new/new" bank!
