Too bad/so sad ... NOT!!! ~ I am not vindictive by nature ... but I make a conscious exception for the NRA ~
~ Sooz
NRA alleges financial difficulties in New York lawsuitJacqueline Thomsen / The Hill / 19 hrs ago
The Hill The National Rifle Association (NRA) is alleging that it is facing financial danger after the state of New York pressured financial institutions to cut ties with the gun group.
The NRA claims in a lawsuit, obtained and first reported by Rolling Stone, that the state of New York sought to hurt the organization by urging financial institutions and insurers not to work with the gun group.
The organization is suing New York Gov. Andrew Cuomo (D), the state's Department of Financial Services (DFS) and Maria Vullo, New York's superintendent of financial services. An amended version of the complaint was filed in U.S. District Court in New York last month.
The lawsuit stems from a May decision by New York financial regulators over "Carry Guard," a-NRA marketed insurance policy for members who face legal costs after firing a gun legally. The DFS determined that the policy was illegal under New York state law, and the insurers who provided it must stop selling the policies and paid a $7 million fine.
The NRA alleges that the decision, along with "threats" by Cuomo, also pressured insurers to drop other policies tied to the gun group.
The Hill has reached out to Cuomo's office and the NRA for comment. Cuomo has previously called the lawsuit "a futile and desperate attempt to advance its dangerous agenda to sell more guns."
The gun organization also states that it has lost insurance coverage after its carrier said it "was unwilling to renew coverage at any price."
And the lawsuit also alleges that the NRA may be forced to shut down NRATV and other publications, after it lost its media liability coverage.
The group claims that it could lose access to financial services after "multiple banks" are distancing themselves from the NRA "based on concerns that any involvement with the NRA - even providing the organization with basic depository services - would expose them to regulatory reprisals."
"If the NRA is unable to collect donations from its members, safeguard the assets endowed to it, apply its funds to cover media buys and other expenses integral to its political speech, and obtain basic corporate insurance coverage, it will be unable to exist as a not-for-profit or pursue its advocacy mission," the complaint states.
The NRA cites Cuomo's past statements and actions against the NRA, claiming that for him "weakening the political advocacy of the NRA is a career strategy."
New York officials are moving "to coerce insurance agencies, insurers, and banks into terminating business relationships with the NRA that were necessary to the survival of the NRA as a charitable organization," the filing alleges.
Financial issues are not new for the NRA: The group overspent by nearly $46 million in 2016, according to Rolling Stone.
The group has faced intense scrutiny after several mass shootings, most notably after the shooting at a Parkland, Fla., high school in Florida. Student activists from the school publicly associated the pro-gun group with lawmaker inaction on gun control laws.
The NRA cited the backlash the organization has faced in the wake of the tragedies in the lawsuit, including a tweet from Cuomo urging businesses in New York to reconsider their ties to the group.
https://www.msn.com/en-us/news/us/nra-alleges-financial-difficulties-in-new-york-lawsuit/ar-BBLszHK?li=BBnbcA1
Login
FAQ
Search
sooz06
~ Sooz
