Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Patent law changes pass Senate
WASHINGTON (9/9/11)--The Senate yesterday approved by an 89-9 vote the Leahy-Smith America Invents Act (H.R. 1249), which, among other things, would protect credit unions and other businesses from outside claims that some specific customer service, payment and marketing practices have already been claimed under existing business method patents. These types of patent challenges, which are often brought by non-practicing entities, can become expensive for credit unions and others if they are heard in court. Overall, H.R. 1249, which is named for Sen. Patrick Leahy (D-Vt.) and Lamar Smith (R-Texas), would alter the patent application system by awarding a patent to the first inventor to file a given application. The legislation also provides greater time for the public to provide input on a patent and changes the rules under which an existing patent may be challenged. The Credit Union National Association was one of several trade groups that backed the legislation, and sought senate support earlier this week in a letter to congress. The legislation now only needs President Barack Obama’s signature to become law.


RSS print
News Now LiveWire
FHFA today announced it's extending comment deadline for guarantee fees Fannie, Freddie charge lenders to Sept. 8.
12 hours ago
The 2014 @CUwomen Forum was held in Gold Coast, Australia yesterday during @WOCCU 's World CU Conference.
15 hours ago
.@CFPB obtains $92M in debt relief from Colfax Capital Corp. http://t.co/QPZAeCAcy2 See also: http://t.co/Kjf4HHkINW
16 hours ago
Julian Castro was sworn in as 16th secretary of @HUDgov Dept. of Housing and Urban Development Mon.
16 hours ago
.@CUNA's Chief Economist @SchenkMike talks consumer confidence--at highest levels since 2007 w/ @TheStreet @JoeDeaux http://t.co/JyoYQmhAxc
16 hours ago