NRA lawsuit claims it's in financial trouble

NRA lawsuit claims it's in financial trouble
Posted at 7:50 PM, Aug 05, 2018
and last updated 2018-08-05 19:50:00-04

(CNN) - The National Rifle Association says New York regulators could leave the organization in serious financial trouble.

And the NRA is pursuing court action to stop them.

The lawsuit filed in May and amended in July, says New York is illegally attempting to coerce financial companies into ending business relations with the group.

Back in May, New York state authorities banned an NRA-branded insurance plan.

The "Carry Guard" program provided liability coverage for gun owners involved in shooting incidents

New York said it could be used to cover deliberate acts of wrongdoing and declared it illegal.

The NRA's lawsuit says New York has violated its First Amendment rights.

It also claims New York is spearheading a blacklisting campaign that has left it unable to get corporate insurance coverage.

It says the NRA could be forced to close its headquarters, shutter its online media presence, and stop holding rallies and conventions.

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