ALBANY, N.Y. (AP) - New York financial regulators say the National Rifle Association is banned from marketing insurance in New York for five years and will pay $2.5 million to settle an investigation into “dangerous” policies that covered gun owners’ costs related to self-defense shootings.
The New York State Department of Financial Services announced the consent order with the powerful gun advocacy group after a three-year investigation into possible violations of state insurance law.
State regulators said the NRA violated insurance laws and regulations by acting as an insurance producer without a license. An attorney for the NRA says the organization has not admitted to any crimes as a part of the settlement.
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