Results 1 to 7 of 7

Thread: The NRA Says It’s in Deep Financial Trouble, May Be ‘Unable to Exist’

  1. #1

    The NRA Says It’s in Deep Financial Trouble, May Be ‘Unable to Exist’

    The National Rifle Association warns that it is in grave financial jeopardy, according to a recent court filing obtained by Rolling Stone, and that it could soon “be unable to exist… or pursue its advocacy mission.” (Read the NRA’s legal complaint at the bottom of this story.)

    The reason, according to the NRA filing, is not its deep entanglement with alleged Russian agents like Maria Butina. Instead, 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 — an amended complaint filed in U.S. District Court in late July — the NRA says it cannot access financial services essential to its operations and is facing “irrecoverable loss and irreparable harm.”

    Specifically, the NRA warns that it has lost insurance coverage — endangering day-to-day operations. “Insurance coverage is necessary for the NRA to continue its existence,” the complaint reads. 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.”

    The complaint says the NRA’s video streaming service and magazines may soon shut down.

    “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.”

    In addition to its insurance troubles, the NRA court filing also claims that “abuses” by Cuomo and the New York State Department of Financial Services “will imminently deprive the NRA of basic bank-depository services … and other financial services essential to the NRA’s corporate existence.”

    The lawsuit presents these financial risks as catastrophic. 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 accuses New York’s government of seeking to “silence one of America’s oldest constitutional rights advocates,” pleading to the court: “If their abuses are not enjoined, they will soon, substantially, succeed.”

    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.
    https://www.rollingstone.com/politic...rouble-706371/
    "I guess I just hate the fact there is public property at all." - Mr. Raceboy.

  2. #2
    For every ailment under the sun - There is a remedy, or there is none;
    If there be one, try to find it; If there be none, never mind it. -- Mother Goose

    "We’ve always assumed that you can’t bring back the dead. But it’s a matter of when you pickle the cells." -- Peter Rhee

  3. #3
    Thoughts & prayers.
    "I guess I just hate the fact there is public property at all." - Mr. Raceboy.

  4. #4
    Ow! My Balls! Put Master
    Mr. Raceboy's Avatar
    Join Date
    Jul 2007
    Location
    Carl's Jr.
    Posts
    32,991
    Translation "send more money". And they will get it.
    "Democracy is a form of worship. It is the worship of jackals by jackasses." H.L. Mencken

  5. #5
    I guess all those memes bragging about David Hogg causing more donations were all wrong. The NRA is a fraud.

  6. #6
    Quote Originally Posted by Mr. Raceboy View Post
    Translation "send more money". And they will get it.
    How much did you send?
    "I guess I just hate the fact there is public property at all." - Mr. Raceboy.

  7. #7
    Ow! My Balls! Put Master
    Mr. Raceboy's Avatar
    Join Date
    Jul 2007
    Location
    Carl's Jr.
    Posts
    32,991
    Quote Originally Posted by skooly View Post
    How much did you send?
    Zero. I haven't been an NRA member in over a decade.
    "Democracy is a form of worship. It is the worship of jackals by jackasses." H.L. Mencken

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •