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Tinker Sailor Soldier Pie
Picture of Balzé Halzé
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quote:


It's not at all that difficult ya know to just post the entire article so everyone doesn't have to give the god awful rolling stones more clicks,


Rolling Stone

AUGUST 3, 2018 11:10AM ET
The NRA Says It’s in Deep Financial Trouble, May Be ‘Unable to Exist’
A new legal filing by the powerful gun group against the state of New York paints a grim picture

By TIM DICKINSON

An attendee passes by a large banner advertising a handgun during the NRA convention at the Georgia World Congress Center on Thursday, April 27th, 2017, in Atlanta.

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.”

President Donald Trump leaves the stage after addressing the National Rifle Association convention in Dallas, May 4, 2018. Trump began his remarks by hailing a number of Republican politicians in attendance, voicing full support for Sen. Ted Cruz in his bid for re-election. (Tom Brenner/The New York Times)
President Trump leaves the stage after addressing the National Rifle Association convention in Dallas, May 4th, 2018.


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.

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 NRA did not respond to a request for more detail about its financial distress, but its most recent financial disclosure also shows it overspent by nearly $46 million in 2016.

The lawsuit decries pressure from state regulators in the wake of the Parkland, Florida massacre — including a letter asking financial institutions to heed “the voices of the passionate, courageous, and articulate young people who have experienced this recent horror first hand” — and from the governor himself. In April, Cuomo tweeted: “I urge companies in New York State to revisit any ties they have to the NRA and consider their reputations, and responsibility to the public.”

In its complaint, the NRA paints these actions as a “malicious conspiracy to stifle the NRA’s speech and induce a boycott of the NRA.” Cuomo and state regulators, the NRA alleges, were intent on “suppressing the NRA’s pro-Second Amendment viewpoint” and had engaged in “unlawful conduct with the intent to obstruct, chill, deter, and retaliate against the NRA’s core political speech.”


In the filing, the NRA reveals that its longtime insurer broke off negotiations this winter and “stated that it was unwilling to renew coverage at any price.” [Emphasis in original.] The NRA claims it “has encountered serious difficulties obtaining corporate insurance coverage to replace coverage withdrawn.” In addition, the NRA contends that “multiple banks” have now balked at doing business with it “based on concerns that any involvement with the NRA — even providing the organization with basic depository services — would expose them to regulatory reprisals.”

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 also did not respond to a request for comment, but has previously waved off the NRA’s lawsuit as “a futile and desperate attempt to advance its dangerous agenda to sell more guns.”


~Alan

Acta Non Verba
NRA Life Member (Patron)
God, Family, Guns, Country

Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan

 
Posts: 31171 | Location: Elv. 7,000 feet, Utah | Registered: October 29, 2012Reply With QuoteReport This Post
Ignored facts
still exist
posted Hide Post
Rolling Stone has been pining to see NRA trouble for decades now.

The NRA will be around in some form or another long after Rolling Stone runs out of money.


.
 
Posts: 11213 | Location: 45 miles from the Pacific Ocean | Registered: February 28, 2003Reply With QuoteReport This Post
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This story actually had a 20 second bit on my local news. Fenris and I both have re-upped in this thread and I'm sure many more have among the NRA membership.
So I really don't understand the impetus behind the reporting that the NRA needs money, even though/if it's a lie.

Obama the gun salesman
Rolling Stone the NRA membership salesman.
 
Posts: 7541 | Location: MI | Registered: May 22, 2007Reply With QuoteReport This Post
Sigforum K9 handler
Picture of jljones
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All of the articles are the same set of fake news narratives repeated over and over.

What exactly do you say in a lawsuit against evil?? That it will mildly inconvenience?

This shows you how dumb the left is. They think they are going to spread the news and people are just going to give up on the NRA. When likely, all they will do is crush fundraising for August by setting record after record.




www.opspectraining.com

"It's a bold strategy, Cotton. Let's see if it works out for them"



 
Posts: 37307 | Location: Logical | Registered: September 12, 2004Reply With QuoteReport This Post
Oriental Redneck
Picture of 12131
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quote:
Originally posted by jljones:
All of the articles are the same set of fake news narratives repeated over and over.

What exactly do you say in a lawsuit against evil?? That it will mildly inconvenience?

This shows you how dumb the left is. They think they are going to spread the news and people are just going to give up on the NRA. When likely, all they will do is crush fundraising for August by setting record after record.

Exactly! x 1 million.


Q






 
Posts: 28224 | Location: TEXAS | Registered: September 04, 2008Reply With QuoteReport This Post
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Odd to think but- When in doubt check RT for more of the story.

quote:
NRA says it may no longer exist as non-profit due to Cuomo's onslaught, Twitter erupts

At the core of Cuomo's "vendetta," according to the NRA, are threats of regulatory reprisals to financial institutions that do not sever their relationship with the NRA under pressure from the New York City authorities.

The NRA says that if it fails to obtain security insurance, it won't be able to hold rallies, annual conferences, and other events that require insurance. So far, its long-time business partner, Lockton Companies, and an unspecified corporate carrier, have refused to renew their policies.
https://www.rt.com/usa/435095-...o-lawsuit-existence/


____________________________________________________

The butcher with the sharpest knife has the warmest heart.
 
Posts: 13524 | Location: Bottom of Lake Washington | Registered: March 06, 2007Reply With QuoteReport This Post
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Picture of mark60
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If the NRA was in dire financial need wouldn't all of our phones be blowing up right now?
 
Posts: 3596 | Location: God Awful New York | Registered: July 01, 2006Reply With QuoteReport This Post
Member
posted Hide Post
MORE
FAKE
NEWS
 
Posts: 4979 | Location: NH | Registered: April 20, 2010Reply With QuoteReport This Post
It's not you,
it's me.
Picture of RAMIUS
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Has the NRA responded to this?
 
Posts: 7016 | Location: Right outside Philly | Registered: September 08, 2005Reply With QuoteReport This Post
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I wouldn't be surprised if this turns out to be an NRA fund raising attempt scare, and I'm a Life Member but I don't fall for their fund raising schemes.


---------------------
DJT-45/47 MAGA !!!!!

"Sometimes I wonder whether the world is being run by smart people who are putting us on, or by imbeciles who really mean it." — Mark Twain

“Democracy is the theory that the common people know what they want, and deserve to get it good and hard.” — H. L. Mencken
 
Posts: 2847 | Location: Falls of the Ohio River, Kain-tuk-e | Registered: January 13, 2005Reply With QuoteReport This Post
Knows too little
about too much
Picture of rduckwor
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I call B/S. This has blown up all over the web with all the liberals wetting their panties in glee (including that little split tail Hogg).

If the NRA was in deep kimchee, we would know it.

RMD




TL Davis: “The Second Amendment is special, not because it protects guns, but because its violation signals a government with the intention to oppress its people…”
Remember: After the first one, the rest are free.
 
Posts: 20426 | Location: L.A. - Lower Alabama | Registered: April 06, 2008Reply With QuoteReport This Post
When you fall, I will be there to catch you -With love, the floor
posted Hide Post
Sounds more about their pending case against New York for the carry guard program.


Richard Scalzo
Epping, NH

http://www.bigeastakitarescue.net
 
Posts: 5812 | Location: Epping, NH | Registered: October 16, 2004Reply With QuoteReport This Post
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I think this is just the NRA fighting back against the "financial war" that's been waged against them by the left (Rental Car corps. Banks, et.al.). Gov. Andrew Cumho is a known tyrant, who hates right-wingers and gun-owners, and has likely overstepped his authority. I think the lawsuit is to give him a nice slap in the peepee.

As far as the articles, they're left-wing masturbatory fantasies.



Loyalty Above All Else, Except Honor

ΜΟΛΩΝ ΛΑΒΕ
 
Posts: 3873 | Location: Colorado | Registered: December 19, 2003Reply With QuoteReport This Post
Big Stack
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Posts: 21240 | Registered: November 05, 2003Reply With QuoteReport This Post
Sigforum K9 handler
Picture of jljones
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Just more of the same almost word for word rehash.




www.opspectraining.com

"It's a bold strategy, Cotton. Let's see if it works out for them"



 
Posts: 37307 | Location: Logical | Registered: September 12, 2004Reply With QuoteReport This Post
Essayons
Picture of SapperSteel
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Here is Town Hall's take on this: LINK

quote:
The NRA's Future Rests In The Hands of One Court Case. Here's Why.
Beth Baumann
Posted: Aug 04, 2018 6:00 AM

The National Rifle Association of America (NRA) has filed a collective lawsuit against New York Governor Andrew Cuomo (D), New York State's Superintendent of Financial Services Maria T. Vullo and the New York State Department of Financial Services (DFS).

Why These Defendants?

The NRA claims Cuomo, Vullo and DFS knowingly went to banks and insurance companies to tell them not to work with the pro-gun group, Rolling Stone first reported.

"Simply put, Defendants made it clear to banks and insurers that it is bad business in New York to do business with the NRA," the lawsuit says. "As a direct result of this coercion, multiple financial institutions have succumbed to Defendants’ demands and entered into consent orders with DFS that compel them to terminate longstanding, beneficial business relationships with the NRA, both in New York and elsewhere."

According to the NRA, Everytown for Gun Safety reached out to Cuomo's office in Sept. 2017 over NRA's Carry Guard insurance program. Specifically, Everytown "prompt[ed] a crackdown by sympathetic government officials that would target alleged compliance infirmities in Carry Guard."
In Oct. 2017, DFS launched an investigation into Carry Guard despite other companies who offer a similar product, something the NRA says was done by design. Eventually, Carry Guard was banned in New York State and its broker was slapped with a $7 million fine.

"Of course, Carry Guard was not Defendants’ true focus, and the scope of the DFS investigation rapidly expanded," the lawsuit says. "Defendants’ goal, from the outset, was to disrupt any and all business arrangements between the NRA and any insurance administrator, broker, or underwriter—indeed, any financial institution."

Lockton, the NRA's long-standing insurance provided, dropped all NRA-related services after receiving threats of extortion by DFS. The lawsuit alleges that Lockton and the NRA were in contract negotiations over a policy renewal. They were set to lock-in the deal when Lockton came back and said they would not provide the NRA with any services moving forward.

"Although it had previously indicated it would be willing to extend the NRA’s General Liability, Umbrella, and Media Liability coverage on favorable terms consistent with the NRA’s favorable claims history, the Corporate Carrier now stated that it was unwilling to renew coverage at any price," the lawsuit says. "The Corporate Carrier severed mutually beneficial business arrangements with the NRA because it learned of Defendants’ threats directed at Lockton, and feared it would be subject to similar reprisals."

Lockton was permanently restricted form conducting business with the NRA in New York State, meaning they could not insure any New York residents under NRA's Carry Guard program. If Lockton did, they would face a civil monetary penalty of $7 million.

Chubb Group Holdings, another one of the NRA's insurance policy providers, had a similar content order placed on them. If Chubb participated in any NRA-endorsed program then they would be slapped with a civil monetary penalty of $1.3 million.

The Need For Financial Services

According to the lawsuit, Cuomo and Vullo's actions have made it almost impossible for the NRA to fulfill their pro-gun advocacy without basic essential financial services:

"Tellingly, several provisions in the orders bear no relation to any ostensible regulatory infraction. Moreover, Defendants’ abuses will imminently deprive the NRA of basic bank-depository services, corporate insurance coverage, and other financial services essential to the NRA’s corporate existence and its advocacy mission."

Without basic banking services, the NRA would not be able to collect donations from memberships and events. They wouldn't be able to take that money and apply it to operational expenses, like payroll, either.

The Need For Insurance Coverage

The NRA needs overall insurance coverage for off-site meetings and events, including Annual Meetings, the Great American Outdoor Show and any other events and rallies the group decides to host.

In addition to general insurance coverage, the pro-gun group also needs media liability coverage to protect their hosts from lawsuits.

"Finally, for any organization that produces and disseminates original media content—especially a controversial speaker like the NRA—media liability coverage is a practical necessity. Absent such coverage, it is likely that NRATV would be forced to cease operating; moreover, the NRA could be forced to cease circulation of various print publications and magazines," the lawsuit says.

The Primary Legal Argument

In their lawsuit, the NRA says the actions taken by Cuomo, Vullo and DFS has had a negative impact on their ability to find a corporate insurance carrier.

"Defendants’ concerted efforts to stifle the NRA’s freedom of speech and to retaliate against the NRA based on its viewpoints are causing other insurance, banking, and financial institutions doing business with the NRA, such as Lloyd’s of London (“Lloyd’s”), to rethink their mutually beneficial business relationships with the NRA for fear of monetary sanctions or expensive public investigations," the lawsuit says.

Lloyd's terminated all of their insurance policies for the NRA. That announcement was made on May 9.

The NRA has contacted other corporate carriers about potential coverage. Each one of them has expressed fear of retaliation by DFS.

"The NRA has spoken to numerous carriers in an effort to obtain replacement corporate insurance coverage; nearly every carrier has indicated that it fears transacting with the NRA specifically in light of DFS’s actions against Lockton and Chubb," the lawsuit says.

DFS' actions against the NRA has also made it difficult for the pro-gun group to find banking services.

"Multiple banks withdrew their bids in the NRA’s RFP process following the issuance of the April 2018 Letters, based on concerns that any involvement with the NRA—even providing the organization with basic depository services—would expose them to regulatory reprisals," the lawsuit says.
The lawsuit claims that the defendants violated the NRA's First and Fourteenth Amendments and that Cuomo and Vullo, in their individual capacities, were part of a conspiracy.

The Desired Outcome

The NRA is seeking a trial by jury and would like a preliminary and permanent injunction, ordering DFS, its agents, representatives, employees and servants and all persons and entities in concert or participation with it, Cuomo (in his official capacity), and Vullo (in her official capacity):

(1) to immediately cease and refrain from engaging in any conduct or activity which has the purpose or effect of interfering with the NRA’s exercise of the rights afforded to it under the First and Second Amendment to the United States Constitution and Section 8 to the New York Constitution;

(2) to immediately cease and refrain from engaging in any conduct or activity which has the purpose or effect of interfering with, terminating, or diminishing any of the NRA’s contracts and/or business relationships with any organizations;

(3) to immediately cease and refrain from further selective enforcement of the Insurance Laws to the NRA endorsed policies; and

(4) to enjoin or preclude the enforcement of the provisions of the Lockton and Chubb Consent Orders purporting to prohibit Lockton and Chubb from doing business with the NRA;

b. Granting such other injunctive relief to which the NRA is entitled;

c. Awarding the NRA actual damages, including compensatory and consequential
damages, in an amount to be determined at trial;

d. Awarding the NRA exemplary or punitive damages;

e. Awarding the NRA pre-judgment and post-judgment interest at the highest lawful
rates;

f. Awarding the NRA such costs and disbursements as are incurred in prosecuting
this action, including reasonable attorneys’ and experts’ fees; and

g. Granting the NRA such other and further relief as this Court deems just and proper.
The NRA did not respond to Townhall's request for comment.


Thanks,

Sap
 
Posts: 3452 | Location: Arimo, Idaho | Registered: February 03, 2006Reply With QuoteReport This Post
His diet consists of black
coffee, and sarcasm.
Picture of egregore
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quote:
NRA Broke?

Considering the source of these reports:

 
Posts: 29077 | Location: Johnson City, TN | Registered: April 28, 2012Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
quote:
Originally posted by jljones:
All of the articles are the same set of fake news narratives repeated over and over.

What exactly do you say in a lawsuit against evil?? That it will mildly inconvenience?

We're Ok. Don't worry about it. Smile



"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown

"The United States government is the largest criminal enterprise on earth."
-rduckwor
 
Posts: 24879 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
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Picture of downtownv
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In my local rag today:
NRA accuses NY of ‘blacklisting’ campaign
Mary Esch
ASSOCIATED PRESS
ALBANY, N.Y. – The National Rifle Association is suffering grave financial harm that threatens its ability to pursue its advocacy mission because of a “blacklisting” campaign by Gov. Andrew Cuomo and New York regulators, the gun rights group said in a federal lawsuit.
In an amended version of a federal lawsuit filed in May, the Virginiabased NRA said it lost insurance coverage after the state’s enforcement actions against companies underwriting an NRA-branded insurance program called Carry Guard. It said the Cuomo administration was persuading other insurers to avoid doing business with the NRA.
Without liability coverage, the NRA said it can’t maintain its offices, operate educational programs, or hold rallies and other political events.
The amended complaint was filed in late July in federal court in northern New York. It names the Democratic governor along with the state Department of Financial Services and its superintendent, Maria Vullo, as defendants.
Cuomo said late Friday the state is filing a motion to dismiss the lawsuit. “New York will not be intimidated by the NRA’s frivolous lawsuit to advance its dangerous gunpeddling agenda,” he said. “If I could have put the NRA out of business, I would have done it 20 years ago,” Cuomo said.
The lawsuit said “back-channel communications” by the Cuomo administration “made it clear to banks and insurers that it is bad business in New York to do business with the NRA.” As a result, it said multiple financial institutions have entered into consent orders that compel them to end long-standing business relationships with the NRA in New York and elsewhere. “Absent injunctive relief, defendants’ blacklisting campaign will continue to damage the NRA and its members, as well as endanger the free speech and association rights guaranteed by the constitutions of the United States and the State of New York,” the lawsuit said. “The actions of defendants are a blatant attack on the First Amendment rights of our organization,” William A. Brewer III, an attorney representing the NRA, said in a statement Friday. The lawsuit asks the court to have the Cuomo administration stop its practices against the NRA. The lawsuit said, “Defendants’ abuses will imminently deprive the NRA of basic bank-depository services, corporate insurance coverage, and other financial services essential to the NRA’s corporate existence and its advocacy mission.”


_________________________
 
Posts: 8962 | Location: 18 miles long, 6 Miles at Sea | Registered: January 22, 2012Reply With QuoteReport This Post
His diet consists of black
coffee, and sarcasm.
Picture of egregore
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No doubt the costs of defending themselves from bogus lawsuits and having their access to banking services strangled hurts the bottom line.

This message has been edited. Last edited by: egregore,
 
Posts: 29077 | Location: Johnson City, TN | Registered: April 28, 2012Reply With QuoteReport This Post
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