An article in Rolling Stone warns that the NRA it is in grave financial jeopardy, and it could soon
“be unable to exist… or pursue its advocacy mission.”
The gun group has been suing New York Gov. Andrew Cuomo and the state’s financial regulators since May, claiming the NRA has been subject to a state-led
“blacklisting campaign” that has inflicted “tens of millions of dollars in damages.”
In the new document, the NRA says it cannot access financial services essential to its operations and is facing
“irrecoverable loss and irreparable harm.”
And to break it down, here are the bullet points of their boo-hooing,
• Insurance coverage is necessary for the NRA to continue its existence.” Without general liability coverage, it adds, the “NRA cannot maintain its physical premises, convene off-site meetings and events, operate educational programs … or hold rallies, conventions and assemblies.” Bitcoin is the original cryptocurrency and still one of the most popular cryptocurrencies today. Most people interested in the latest bitcoin news today will be looking for bitcoin price changes, bitcoin mining news, and safety developments in the blockchain technology upon which the cryptocurrency relies. Unfortunately, sifting through the huge number of platforms that offer news on bitcoin can be difficult due to internet marketing distractions, the dynamic nature of cryptocurrency developments, and even fluff content on some sites.
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• The NRA’s inability to obtain insurance in connection with media liability raises risks that are especially acute; if insurers remain afraid to transact with the NRA, there is a substantial risk that NRATV will be forced to cease operating.”
• The group also warns it “could be forced to cease circulation of various print publications and magazines.”
• Without access to routine banking services, the NRA claims, “it will be unable to exist as a not-for-profit or pursue its advocacy mission.”
• The lawsuit stems from actions taken by New York financial regulators to halt the sale of an illegal, NRA-branded insurance policy. The NRA actively marketed “Carry Guard,” a policy to reimburse members for legal costs incurred after firing a legal gun. In May, the state of New York found that Carry Guard “unlawfully provided liability insurance to gun owners for certain acts of intentional wrongdoing.” The NRA’s insurance partners agreed to stop selling the policies and pay a $7 million fine.
• The NRA complaint alleges that New York was not content to block this single insurance product, but instead campaigned to sever the NRA’s ties to a wide range of financial service providers, from insurance companies to banks.
The lawsuit seeks an immediate injunction to block state authorities from
“interfering with, terminating, or diminishing any of the NRA’s contracts and/or business relationships with any organizations.” Without court intervention, the complaint reads, “the NRA will suffer irrecoverable loss and irreparable harm if it is unable to acquire insurance or other banking services due to Defendants’ actions.”
Cuomo has previously waved off the NRA’s lawsuit as
“a futile and desperate attempt to advance its dangerous agenda to sell more guns.”
#ThoughtsAndPayers (that’s not a typo)
(Image, YouTube; via Rolling Stone)