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Old August 4, 2018, 11:11 AM   #1
Adrian
Senior Member
 
Join Date: November 7, 2007
Location: Free of California!
Posts: 273
Under financial attack, NRA might "be unable to exist"

The NRA is suing the State of New York for a (so far, meaningfully successful) campaign to cut them off from insurance and other financial services.

From a 2018-07-20 filing in New York court:

Quote:
The foundation of Defendants’ selective-enforcement and retaliation campaign is a series of threats to financial institutions that DFS, an agency created to ensure the integrity of financial markets after the 2008 credit crisis, will exercise its extensive regulatory power against those entities that fail to sever ties with the NRA. To effect their sweeping agenda, Defendants issued public demands that put DFS-regulated institutions on notice to “discontinue[] their arrangements with the NRA” and other “gun promotion organizations” if they planned to do business in New York.

At the same time, Defendants engaged in back-channel communications to reinforce their intended purpose. 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 implications are clear:

Quote:
The NRA has suffered tens of millions of dollars in damages based on Defendants’ conduct described above. Such damages include, without limitation, damages due to reputational harm, increased development and marketing costs for any potential new NRA-endorsed insurance programs, and lost royalty amounts owed to the NRA, as well as attorneys’ fees, legal expenses, and other costs.

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. Defendants seek to silence one of America’s oldest constitutional rights advocates. If their abuses are not enjoined, they will soon, substantially, succeed.
Original court filing
Rolling Stone coverage and summary

The usual suspects seem to be rejoicing at the idea that the NRA is on its last desperate legs, but I'm pretty sure the organization has quite a bit more fight in it. We've seen this before - money may or may not be speech per se, but regardless of your stance on Citizens United, it does seem to be required for speech these days (at least on the national scale).

That said, when an insurance company says they're unwilling to cover the NRA’s General Liability, Umbrella, and Media Liability coverage at any price (despite the NRA's favorable claims history), you know there are some long knives out in the back rooms.

What do you think?
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