Charles Schwab To Purchase TD Ameritrade

SAN FRANCISCO, CALIFORNIA - NOVEMBER 25: The Charles Schwab logo is displayed in front of a Charles Schwab office on November 25, 2019 in San Francisco, California. Brokerage firm Charles Schwab announced plans to buy rival firm TD Ameritrade for $26 billion. (Photo by Justin Sullivan/Getty Images)

NEW YORK (CBS46) -- A Charles Schwab charitable fund has stopped allowing customers to make donations to non-profits linked to the National Rifle Association through its $10 billion donor-advised fund.

The decision to suspend contributions to charities linked to the gun owners advocacy group, which has not been previously reported, was made in the past few months. It comes at a time the NRA has faced a drop in donations, as well as allegations that it abused its non-profit status. Schwab's fund had donated a total of $146,000 to NRA-affiliated charities in its past three fiscal years, according to IRS filings.

Attorneys general in the District of Columbia and New York have opened investigations into whether the NRA illegally transferred millions of dollars in tax-exempt payments from its non-profit, the NRA Foundation, to the parent organization. Donations made directly to the NRA would not qualify as tax exempt.

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