Cuomo threatens banks, ins co's over guns

[middlefinger]

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Cuomo Might Just Crush A Legitimate Business And Chill The Second Amendment In One Fell Swoop

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New York Gov. Andrew Cuomo is trying to scare state banks and insurance companies from doing business with the NRA and firearms manufacturers.

As the New York Daily News reports, Cuomo’s Democratic administration is sending a letter to warn the financial sector about the “reputational risk” of dealing with either the NRA or gun makers and to “urge all insurance companies and banks doing business in New York to join the companies that have already discontinued their arrangements with the NRA, the gun industry, or other promoters of guns.”

The correspondence from the state’s department of financial services stops short of threats or punishment for banks and insurance companies, yet casts possible business relationships with the gun industry as running contrary to public sentiment following the Parkland, Fla. shootings.

“The tragic devastation caused by gun violence that we have regrettably been increasingly witnessing is a public safety and health issue that should no longer be tolerated by the public and there will undoubtedly be increasing public backlash against the NRA and the gun industry,” financial services superintendent Maia Vullo writes.

Vullo observes that MetLife quickly moved to distance itself from the NRA and suggests other members of the financial sector should “take prompt actions… [to] promote public health and safety.”

New York NRA board member Tom King called the letter “extortion.”

King, who is a also president of New York’s Rife & Pistol Association, told the Daily News it’s “a veiled threat.”

http://dailycaller.com/2018/04/19/cu...cturers-banks/

[bogey1]

Wouldn't that be illegal?

[Jhaydeno]

Wouldn't that be illegal?

Exactly. It sounds like he may be interfering with legitimate interstate commerce. Someone ought to sue the crap out of him and the state (that's the nicest thing I would do to him).

[scruff]

There's a word for that. Fascism.

[knight0334]

Sound like collusion to organized crime.. Might be RICO Act time.

[Wilderness 1864]

Sound like collusion to organized crime.. Might be RICO Act time.

Not surprising that an Democrat official would send out a letter seeking those that he regulates to damage lawful businesses and a civil rights organization.

What this means is that Cuomo has already tasked his minions in the New York State Department of Financial Services (the agency that regulates banks and insurance companies) to propose regulations intended to stop or punish banks and insurance companies doing business with the NRA or firearms manufacturers. Cuomo is a true Stalinist.

This is simply a clever signalling precursor to a program he will probably unveil soon.

[Roadking]

RICO was the first thought in this head...

[KPShooting]

Sounds hyper illegal. Since money = speech he's threatening to infringe on the 1st amendment rights of those banks. I'd love for one of the banks to sue the state based on this, but I doubt it will happen.

[Wilderness 1864]

Sounds hyper illegal. Since money = speech he's threatening to infringe on the 1st amendment rights of those banks. I'd love for one of the banks to sue the state based on this, but I doubt it will happen.

It will not happen. They are all regulated by the State's DFS, which is in a position to punish them severely. This was a message from Cuomo to the regulated institutions, "do it on your own or I am going to hurt you or force you". Sure he is threatening the NRA and the firearms industry, but the main point of his threat is to those institutions doing business in NY or licensed by them. That is what Cuomo was telling them, and, I bet he already has his minions preparing anything from new regulations, to delivering burdensome and expensive information requests about business transactions with the firearms industry, to threats of Schneiderman sponsored class action litigation (think of the tobacco industry shakedown). That is how government works and, in particular, that is how NY government works. Cuomo is himself a criminal bagman going back to his days in the Clinton Administration and an expert in extortion.

[FBG001]

Not a surprise. I've worked for a large insurance and financial services company for 40 years. While we're not domiciled in New York, we do business there and they've always been a persistent thorn in our side. I recall they once took the position that if we wanted to do business there, we would have to implement a particular New York regulation in ALL states where we did business. Extortion, pure and simple.

That was during the days when Eliot Spitzer was either AG or governor. (I don't recall which.) Now there's a piece of shit! At least as bad as Coumo, finally taken down by a prostitution scandal. I love how the libs think they own the moral high ground!