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Another jury says Wells Fargo infringed on RDC patents

first_imgThe Texas jury in a second lawsuit brought by USAA against Wells Fargo also determined that Wells Fargo had willfully infringed on USAA’s remote deposit capture (RDC) technology patents. The first lawsuit – with a different jury –  resulted in $200 million in damages; this most recent decision orders Wells Fargo to pay an additional $103 million in damages.The first lawsuit dealt with autocapture technology, while this one dealt with broader patents, including the technology that reads the check to verify the routing/account numbers and the information submitted by the consumer.While Wells Fargo has not formally requested an appeal in either lawsuit, the bank in December filed a motion with the U.S. District Court for the Eastern District of Texas asking the court to stay the judgement in the first case pending any post-judgment motions. While the bank still has not indicated whether it will appeal that decision, in another sealed motion, Wells Fargo has asked for a new trial in the first case. No motions have been made in the second case.NAFCU is also monitoring a request from the vendor that provides Wells Fargo, and thousands of other financial institutions, with RDC technology for a federal judge in California to issue judgment that its technology does not infringe on USAA’s patents. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

HSBC edges closer to record West End as demand hits 12-year high

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At Liberty

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img