Wells Fargo Agrees to Settle Patent Litigation Brought by USAA
shot by IP News Shots / 7:51 pm on 17 February, 2021
A patent infringement lawsuit worth $300 million brought by the United States Automobile Association (USAA) against Wells Fargo & Co. for infringement of patents relating to technology for check deposit through mobiles has been settled. Wells Fargo agreed to a settlement after it was found guilty of infringing on the asserted patents by the US District Court for the Eastern District of Texas.
Read More at: https://www.law360.com/articles/1355338/usaa-wells-fargo-reach-settlement-in-300m-patent-case
Industry: Banking/Financial Services
Open Invention Network Adds Two Prominent Members
shot by IP News Shots / 6:06 pm on 16 February, 2021
The Open Invention Network (OIN) has added two new members to the group from the banking and finance industry, Barclays plc and TD Bank, N.A. One major reason for the banks to have joined the network is to strengthen the protection of their patents. The CEO of OIN expects more companies/institutes to join soon.
Read More at: https://www.iam-media.com/defensive-aggregation/open-invention-network-adds-major-banks-membership-barclays-and-td-bank-sign
Industry: Banking/Financial Services
PTAB Rejects Another Attack at USAA Patent
shot by IP News Shots / 6:50 pm on 04 February, 2021
The Patent Trial and Appeal Board (PTAB) has quashed an attempt at having United Services Automobile Association (USAA) mobile check deposit patent invalidated by Mitek Systems Inc. The patent in question was unsuccessfully challenged at the PTAB twice earlier and the same patent had also been involved in a patent infringement suit.
Read More at: https://news.bloomberglaw.com/ip-law/ptab-rejects-mitek-serial-attack-to-usaa-check-deposit-patent
Industry: Banking/Financial Services
SCOTUS Declines Review of CAFC Ruling Allowing Federal Banks to Challenge Patents
shot by IP News Shots / 6:07 pm on 18 January, 2021
The Supreme Court of the US (SCOTUS) has declined the review petition by Bozeman Financial LLC for a ruling by the US Court of Appeals for the Federal Circuit (CAFC). It allowed Federal Banks of the US to challenge patents at the Patent Trial and Appeal Board (PTAB) under the America Invents Act (AIA) as they were not the agencies of the Government. The SCOTUS declined the review petition and upheld the CAFC’s ruling.
Read More at: https://coingeek.com/federal-banks-can-challenge-patents-us-supreme-court/
Industry: Banking/Financial Services
PTAB Rules in Favor of USAA, Upholds Mobile Deposit Capture Patent
shot by IP News Shots / 6:22 pm on 14 January, 2021
The Patent Trial and Appeal Board (PTAB) has ruled in favour of the United Services Automobile Association (USAA) by upholding the challenged claims in a patent belonging to it. The challenges to the claims were presented by Wells Fargo & Co. for a patent relating to mobile check deposit capture.
Read More at: https://www.law360.com/ip/articles/1343967/ptab-oks-usaa-check-deposit-patent-in-wells-fargo-ip-row
Industry: Banking/Financial Services
Katapult and FinServ Tie-Up to Form e-Commerce-Focused FinTech Company
shot by IP News Shots / 6:24 pm on 21 December, 2020
Katapult Holdings Inc. is all set to merge with FinServ Acquisition Corp. to make an e-commerce-focused financial technology company. The value of the new company to be formed is estimated to be nearly $1 billion.
Read More at: https://www.law360.com/retail/articles/1339278/3-firms-steer-spac-tie-up-forming-1b-e-commerce-fintech
Industry: Banking/Financial Services