As I was closely watching the developments at WHJ Holdings, I see now that they are almost ready with a solution to follow the rules of Linden Lab.
It will no longer be a bank and all members will be partners, or shareholders. This means they can buy and sell shares only through their website, not inworld. It seems that the majority of their "customers" agree with that policy, except for a few members.
A lot of questions raised by this new policy of Linden lab, not in the least at the current "Second Life banks", but it seems that there are always doors open to other solutions, without having "casualties". The residents are therefore not always screwed by Second Life.;)
But nevertheless, there are many people among us, who are wondering , what is allowed and what not, and will still be suspicious by any other action of a former bank.
On "The Second Life Newspaper" , there is a phone conversation written down with some questions and answers regarding this issue, with Patch of Linden Lab of 1-15-08.
Here we can learn that in general loans still will be permitted, as long as they are not connected to interest, and that the lender will be able to charge a service fee for lending.
The ATM's are being targeted because they are tied to interest bearing accounts, so they will be ok just for depositing in an investment account .
The fact why this new rule had to be set, was only because of the interests, paid by the SL former banks, which were not according LL's point of view regarding the protection of Second Life's economy and its residents, probably inspired under a "virtual" pressure by the US government and other commercial thoughts.....
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