The end of in-world "banking"

New Policy Regarding In-World “Banks” « Official Linden Blog:

"As of January 22, 2008, it will be prohibited to offer interest or any direct return on an investment (whether in L$ or other currency) from any object, such as an ATM, located in Second Life, without proof of an applicable government registration statement or financial institution charter. We’re implementing this policy after reviewing Resident complaints, banking activities, and the law, and we’re doing it to protect our Residents and the integrity of our economy."

Lots of residents will say "about time too", and a lot of scammers will bolt for the hills. What might be interesting is seeing whether, ultimate, real banks will step into the breach.