NRA alleges financial difficulties on NY lawsuit.

NRA alleges financial difficulties in New York lawsuit
Jacqueline Thomsen

The National Rifle Association (NRA) is alleging that it is facing financial danger after the state of New York pressured financial institutions to cut ties with the gun group.

The NRA claims in a lawsuit, obtained and first reported by Rolling Stone, that the state of New York sought to hurt the organization by urging financial institutions and insurers not to work with the gun group.

The organization is suing New York Gov. Andrew Cuomo (D), the state's Department of Financial Services (DFS) and Maria Vullo, New York's superintendent of financial services. An amended version of the complaint was filed in U.S. District Court in New York last month.

The lawsuit stems from a May decision by New York financial regulators over "Carry Guard," a-NRA marketed insurance policy for members who face legal costs after firing a gun legally. The DFS determined that the policy was illegal under New York state law, and the insurers who provided it must stop selling the policies and paid a $7 million fine.

The NRA alleges that the decision, along with "threats" by Cuomo, also pressured insurers to drop other policies tied to the gun group.

The Hill has reached out to Cuomo's office and the NRA for comment. Cuomo has previously called the lawsuit "a futile and desperate attempt to advance its dangerous agenda to sell more guns."

The gun organization also states that it has lost insurance coverage after its carrier said it "was unwilling to renew coverage at any price."

And the lawsuit also alleges that the NRA may be forced to shut down NRATV and other publications, after it lost its media liability coverage.

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