NRA High Court Case Risks Free Speech Suits Against Regulators

The US Supreme Court next week will hear a case that threatens to expose more government actions to free speech challenges and chill future efforts to warn financial institutions about working with high-risk industries.

At the center of the case, National Rifle Association v. Vullo, is April 2018 guidance from New York’s Department of Financial Services cautioning insurers about the “reputational” risks of doing business with the NRA and other gun rights advocacy groups.

The US Court of Appeals for the Second Circuit ruled in 2022 that former New York Superintendent for Financial Services Maria Vullo didn’t violate ...