Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
NEW: House Approves CUNA-Supported Patent Improvement Bill
WASHINGTON (12/5/13, UPDATED: 1:35 P.M. ET)--The U.S. House today approved The Innovation Act of 2013 (H.R. 3309) by a 325 to 91 vote. The bill, which will now move on to the Senate, included a Credit Union National Association-supported amendment.

H.R. 3309, which was introduced by Rep. Bob Goodlatte (R-Va.) in late October, would remove some of the financial incentives sought by firms that assert low-quality patents in the hope of quick settlements.

So-called "patent trolls" continue to use low-quality patents to try to extract settlements from credit unions and others. Credit unions have been sued for the use of certain ATM technologies, check imaging applications and check cashing applications, and providing members with mobile transactions through their smartphones.

The amendment supported by CUNA would require patent trolls to identify the ultimate parent entity in claim letters filed as part of their patent litigation.

CUNA and coalition partners on Wednesday supported H.R. 3309 in a letter sent to all House members. The bill, they wrote, "takes a positive step" toward addressing the exponentially growing threat of "patent trolls" that assert patents of dubious quality against legitimate businesses, including banks and credit unions. (See Dec. 5 News Now story: CUNA to House Leaders: Patent Bill Goes in 'Right Direction'.)


RSS





print
News Now LiveWire
.@TheNCUA recieved 2,167 comment letters on #RBC2 proposal, as of this morning. http://t.co/ijPFHItc8J
1 hour ago
.@TheKCUA's CUlead gets close up with co-ops http://t.co/r3gxAxx4pI #NewsNow
1 hour ago
.@NYCUAtweets in Albany today/Wed for #StateGAC
1 hour ago
#RBC2: When is final draft on the horizon? See #NewsNow http://t.co/FoiXb48Dqh
2 hours ago
About 1 in 5 #CUs offer credit-building loans,@SchenkMike @CUNA vice president of economics and statistics, told @CreditCardsCom
17 hours ago