TriggerFinger


NRA suing New York


Never Yet MeltedThe real gravamen of the news is, however, the use of the organs of government by the liberal gubernatorial administration of Andrew Cuomo in New York to intimidate insurance companies and banks into denying conventional business services to the National Rifle Association.

Obviously, if a national avocationally-oriented organization devoted to lobbying in its members’ interest cannot buy insurance, or potentially even have bank or brokerage accounts, it cannot handle money, receive dues, pay salaries, publish magazines, operate, or exist.

The core problem here is that many financial services companies -- perhaps most of the large ones -- are incorporated in or based in New York, and thus subject to that state's regulations even when their business is national. If political forces in New York want to have a national political impact, one way they can do that is by pressuring companies subject to their regulations. That's what happened here: New York politicians are pressuring banks and insurance companies not to do business with the National Rifle Association specifically, and the firearms industry in general.

If they succeed with the NRA and are not stopped, how will the smaller organizations and even local gun stores manage? Answer: they won't, at least not in the short term. Eventually alternative services not subject to the same pressure will likely appear, but that will take a while, and most businesses are required to carry various types of insurance. And of course all businesses need to be able to collect payments from their members and customers, something else that has been under attack.

This entry was published Wed Aug 08 10:48:31 CDT 2018 by TriggerFinger and last updated 2018-08-08 03:25:32.0. [Tweet]

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