Is the NRA going bankrupt? Group Claims it Will Soon be ‘Unable to Exist’ Due to Financial Difficulties
The National Rifle Association (NRA) said it is facing financial ruin because of a “blacklisting” campaign headed by New York Governor Andrew Cuomo, according to a lawsuit filed by the gun rights group.
The NRA said it may no longer be able to produce its magazines, run its video streaming service or hold rallies because the state of New York has caused "irrecoverable loss and irreparable harm"to the organization.
According to the suit, obtained by Rolling Stone, the NRA lost its insurance coverage after actions taken by the New York financial regulators to halt an NRA-branded insurance program called Carry Guard, a policy to reimburse NRA members for costs after firing a legal gun.
In May, New York ruled that the policy “unlawfully provided liability insurance to gun owners for certain acts of intentional wrongdoing” and fined the NRA $7 million.
The NRA -- which is not noted for its measured rhetoric -- also said New York has launched a “discrimination campaign” against it by encouraging insurance agencies, insurers, and banks to terminate business relationships that “were necessary to the survival of the NRA as a charitable organization.”
In the wake of the Parkland school shooting in Florida which left 17 people dead, Cuomo described the NRA as anhttps://twitter.com/NYGovCuomo/status/987359763825614848while encouraging companies in New York with ties to the group to “consider their reputations, and responsibility to the public.”