Free recording of CUNA’s USAA RDC lawsuit webinar available
A recording of CUNA’s webinar on USAA remote deposit capture lawsuits is now available for free to CUNA members. Those who registered for the live webinar can view the recording, others can register to view the recorded version, which will be available through March 20, 2020.
USAA was awarded $200 million from Wells Fargo earlier this month, as a U.S. District Court jury found that Wells Fargo infringed on certain USAA RDC patents related to mobile check capture.
Prior to the verdict, USAA has sent letters to many credit unions around the country requesting to negotiate licensing deals for using the RDC technology USAA claims to have developed. More letters will likely be forthcoming.
During the webinar, CUNA Senior Director for Advocacy for Payments and Cybersecurity Lance Noggle and CUNA’s patent litigation attorneys Mike Rounds and Adam Yowell, of Brownstein Hyatt Farber Schreck detailed the Wells Fargo lawsuit result, what could happen going forward and noted that USAA has filed another lawsuit on five additional patents that is set to begin in January 2020.
The attorneys recommended credit unions:
- Review contracts with software vendors for indemnity clauses;
- If appropriate, advise vendors they need to respond to the infringement/licensing demand;
- Check state licensing codes for information on indemnification;
- Check the state commercial code; and
- Check business insurance policies to see if patent infringement is covered.