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The Green Sheet

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USAA sues Wells Fargo Bank for patent infringement

Friday, June 08, 2018 (San Antonio Express-News / Patrick Danner)

This is not the first time the industry has witnessed claims of valid patent infringement related to remote deposit capture technology, including mobile deposit.  

Most recently, in May 2017, we learned of USAA’s plans to invite banks and credit unions to license remote deposit capture (RDC) technology. Now a lawsuit has been filed.

This story written by Patrick Danner, and published by the San Antonio Express-News, sheds some light on this developing story.


Below is an excerpt from the article:

San Antonio financial services giant USAA alleges in a new lawsuit that Wells Fargo Bank is infringing on its patented technology that allows customers to deposit checks electronically.

It’s the first lawsuit USAA has filed since it warned last year that it would be reaching out to banks and credit unions to “pay their fair share” by licensing the company’s technology.

USAA seeks unspecified financial damages from Wells Fargo. The suit was filed Thursday in U.S. District Court in Marshall.

Read the entire article here.

 


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