In that case, they should be careful what they wish for: Hebrew National's claim was that their standards were *stricter* than the government's, not that they were exempt from them.
On Mon, May 10, 2010 at 7:37 PM, verizon <alanarmstrong....@verizon.net>wrote: > I think the bank was claiming something like Hebrew National's "we answer > to a higher authority." > That is, they would be more friendly, transparent, and helpful than other > banks. Maybe they would keep the borrower from getting a loan that could not > be repaid. > > Alan > > Law Office of Alan Leigh Armstrong > 18652 Florida St., Suite 225 > Huntington Beach CA 92648-6006 > 714 375 1147 faz 714 782 6007 > a...@alanarmstrong.com > Serving the family and small business since 1984 > > > > > > On May 10, 2010, at 2:51 PM, Vance R. Koven wrote: > > I don't see any particular connection to religion at all here. Everybody > seems to be saying they were in compliance with banking regulations, the > securities laws and anything else they've been charged with violating. If > there is going to be a claim that being a "religious" bank means they don't > have to abide by whatever lending criteria the law establishes (and if they > were out of compliance, I'd like to know what Fannie Mae and Freddie Mac's > excuse was), it would strike me as both a "last refuge of a scoundrel" issue > and a possible estoppel issue if they didn't make any exemption claims when > obtaining their banking licenses (I don't know what regulations would apply > to the borrower--there are already cases that hold a bank loan is not a > securities transaction to which Rule 10b-5 would apply). > > There are, however, religious banks, in the sense of banks that apply > religious law to their products, chiefly Islamic banks that structure > products around the interest prohibition. Of course, Western banks also deal > in such products for clients to whom the religious prohibitions matter. > However, the NYT article doesn't suggest that Integrity was claiming a > Christian loan is one that doesn't need to be repaid. > > Vance > > On Mon, May 10, 2010 at 2:30 PM, <hamilto...@aol.com> wrote: > >> Sounds like religious insurance. They typically argue they should not >> have to abide by regulations and they discriminate on the basis of religion >> in hiring and in choosing customers >> >> As I remember there is a religious exemption for religious insurers in the >> health care law. >> >> Marci >> Sent from my Verizon Wireless BlackBerry >> >> -----Original Message----- >> From: "Volokh, Eugene" <vol...@law.ucla.edu> >> Date: Mon, 10 May 2010 11:13:12 >> To: 'Law & Religion issues for Law Academics'<religionlaw@lists.ucla.edu> >> Subject: RE: Faith Base Banking >> >> _______________________________________________ >> To post, send message to Religionlaw@lists.ucla.edu >> To subscribe, unsubscribe, change options, or get password, see >> http://lists.ucla.edu/cgi-bin/mailman/listinfo/religionlaw >> >> Please note that messages sent to this large list cannot be viewed as >> private. Anyone can subscribe to the list and read messages that are >> posted; people can read the Web archives; and list members can (rightly or >> wrongly) forward the messages to others. >> >> _______________________________________________ >> To post, send message to Religionlaw@lists.ucla.edu >> To subscribe, unsubscribe, change options, or get password, see >> http://lists.ucla.edu/cgi-bin/mailman/listinfo/religionlaw >> >> Please note that messages sent to this large list cannot be viewed as >> private. Anyone can subscribe to the list and read messages that are >> posted; people can read the Web archives; and list members can (rightly or >> wrongly) forward the messages to others. >> > > > > -- > Vance R. Koven > Boston, MA USA > vrko...@world.std.com > _______________________________________________ > To post, send message to Religionlaw@lists.ucla.edu > To subscribe, unsubscribe, change options, or get password, see > http://lists.ucla.edu/cgi-bin/mailman/listinfo/religionlaw > > Please note that messages sent to this large list cannot be viewed as > private. Anyone can subscribe to the list and read messages that are > posted; people can read the Web archives; and list members can (rightly or > wrongly) forward the messages to others. > > > > _______________________________________________ > To post, send message to Religionlaw@lists.ucla.edu > To subscribe, unsubscribe, change options, or get password, see > http://lists.ucla.edu/cgi-bin/mailman/listinfo/religionlaw > > Please note that messages sent to this large list cannot be viewed as > private. Anyone can subscribe to the list and read messages that are > posted; people can read the Web archives; and list members can (rightly or > wrongly) forward the messages to others. > -- Vance R. Koven Boston, MA USA vrko...@world.std.com
_______________________________________________ To post, send message to Religionlaw@lists.ucla.edu To subscribe, unsubscribe, change options, or get password, see http://lists.ucla.edu/cgi-bin/mailman/listinfo/religionlaw Please note that messages sent to this large list cannot be viewed as private. Anyone can subscribe to the list and read messages that are posted; people can read the Web archives; and list members can (rightly or wrongly) forward the messages to others.
