Conversely, when one invests in a bank, the bank is promising to repay what one has invested in the same currency that one has invested it with interest either on demand or within a fixed period after a request.

Even if not legally responsible, I assume that good business sense makes them so anyway. They may not have promised ANY interest, let alone the high interest that some of the in-world banks have promised. But LL has given residents similar hopes for riches through the media hype and sometimes through their own statements.

It strikes me that LL itself acts in many ways as a bank by issuing money that is convertable to RL money and by managing our accounts that contain this money. And therefore it is somewhat hypocritical to ban in-world banks for something LL is not regulated to do themselves.

Yes, I trust LL more than I trust any of the present in-world banks and I am for having only regulated financial institutions providing these services. But LL’s move is commendable only if they also make the effort to bring in such institutions to replace even themselves as a “virtual bank”.

In attempting to prevent people from getting ripped off, they caused a situation where people will definalty get ripped off.

Why did they not address it in a more resonable manor is beyond me, but thousands of people have no way to get their money back thanks to LL slap happy policy that they never concidered for one second just how wide the impact is.

People will leave the game over it i am sure. But hey i am not LL so .. what do i care.