Speed Reads

bye bye nra?

The NRA 'will be unable to exist' due to financial losses, group argues in legal filing

The National Rifle Association says it is facing major financial losses and "irreparable harm" as a result of New York State's crackdown on the gun rights group.

In a legal filing obtained Friday by Rolling Stone, the NRA said it could soon "be unable to exist" due to a state-wide "blacklisting campaign." The organization claimed it had lost insurance coverage and suffered "tens of millions of dollars in damages" following Gov. Andrew Cuomo (D)'s attempts to cut the NRA off from financial service providers. "Insurance coverage is necessary for the NRA to continue its existence," the organization argued, saying that its conventions, meetings, and day-to-day operations are in danger because of its inability to obtain insurance. The filing also says that the NRA may soon shutter its video streaming service and magazine because of the financial distress, reports Rolling Stone.

New York regulators stopped the sale of NRA-branded insurance policies that "unlawfully provided liability insurance to gun owners for certain acts of intentional wrongdoing" earlier this year. The halted sales of "Carry Guard" policies pushed the NRA to strike back with a lawsuit, accusing the state government of "abuse" against the group's "advocacy mission." The NRA argues that the state has continued on in a "malicious conspiracy" against the organization's political speech even after shutting down Carry Guard.

Cuomo has called the lawsuit "a futile and desperate attempt to advance its dangerous agenda to sell more guns." Read more at Rolling Stone.