Removing Barriers Blog

Financial Services Coalition Letter on H.R. 9, the Innovation Act
Posted June 09, 2015 by CUNA Advocacy

The financial services coalition of which CUNA is a member wrote a letter to House Judiciary Committee Chairman Goodlatte in anticipation of the markup of H.R. 9, the Innovation Act. The group expressed their earnest support of efforts towards patent reform, expressly supporting the adoption of an amendment which would extend the Covered Business Method (CBM). The group also urged that more must be done to curb abusive demand letters especially against credit unions. CUNA will continue to work for stronger patent reform legislation and also work with the coalition on the issue.   

Unfortunately, the bill passed out of Committee without strong demand letter language and without an extension of the CBM program. It’s not immediately clear when the Innovation Act will be considered by the full House, but CUNA will continue to work with the bill’s authors and others in the house to improve the bill as attention now shifts to the Senate and S. 1137, the bipartisan PATENT Act, which includes very robust demand letter provisions that would help protect credit unions from patent trolls.  A markup of the PATENT Act is expected later this summer.