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New York fines NRA, imposes five-year ban on insurance sales

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Economy16 hours ago (Nov 18, 2020 11:35AM ET)

© Reuters. A general view shows the National Rifle Association (NRA) headquarters, in Fairfax© Reuters. A general view shows the National Rifle Association (NRA) headquarters, in Fairfax

By Jonathan Stempel

NEW YORK (Reuters) – The National Rifle Association agreed to a five-year ban on doing insurance business in New York state and will pay a $2.5 million civil fine to settle charges it offered insurance to members without a license and concealed how it routinely kept some premiums for itself.

New York’s Department of Financial Services announced the settlement on Wednesday, a little over three months after state Attorney General Letitia James sued to dissolve the gun rights group, accusing it of widespread corruption.

Wednesday’s accord resolved charges over the NRA’s two-decade relationsh

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