Banks

Ed. note: Above the Law will have a reduced publishing schedule on Friday, July 4, in observance of the day when Will Smith beat those aliens.

* Two state supreme courts rejected the bids of guns rights advocates to give felons the right to own guns. But if you outlaw guns, only outlaws… wait, that slogan doesn’t work here. [The Volokh Conspiracy / Washington Post]

* Hobby Lobby fallout. Religious groups are asking President Obama to accommodate their “sincerely held belief” that gay people don’t deserve jobs. [Talking Points Memo]

* On the other hand, Hobby Lobby opens the door to student loan forgiveness. [Tyler Coulson]

* People hated talking to Steve Jobs about their work. Was it because kids these days don’t understand the value of hard work? Or was it because computer geeks are notoriously introverted? [What About Paris?]

* Don’t discriminate against people getting divorces — they’ve got enough to worry about. [Adjunct Law Prof Blog]

* Some legal academics think bank executives should be paid in bonds. Here are some arguments against that. [Fortune]

If you don’t have a lawyer, it is hard to really put their feet to the fire and make sure the banks have every ‘t’ crossed and ‘i’ dotted… We are going to make sure funding for those legal services is restored.

– New York Attorney General Eric T. Schneiderman, discussing the implications of a $2.7 billion hard-cash settlement under a nationwide mortgage servicing agreement.

As part of the settlement, New York State will receive a guaranteed $136 million, and New Yorkers who suffered during the foreclosure crisis will be eligible for an estimated $648 million in additional payments. Schneiderman said the settlement will help restore legal service programs that were cut back in recent years.