New York State Department of Financial Services attempts to put gun organizations out of business

As we noted in June, Democrats are seeking to restrict gun rights by targeting financial institutions. One of the more vicious attacks has been by the New York State Department of Financial Services (DFS) to force the NRA out of business. Here is the NRA complaint.

[The DFS] made it clear to banks and insurers that it is bad business in New York to do business with the NRA.

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. 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. . . .

A new article in Rolling Stone seems to think that this is a great idea

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.” . . .