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- Truist accused of copying tech for depositing checks by cellphone USAA has gained more than $500 million from other financial institutions in related scenarios
(Reuters) – Fiscal providers firm United Companies Vehicle Affiliation sued Truist Bank in East Texas federal court docket on Friday, alleging Truist’s cell check out-deposit technological innovation infringes a few of its patents.
USAA has by now won around $500 million in circumstances towards Wells Fargo and PNC Bank in the exact court for violating relevant patents.
USAA, which caters to U.S. navy assistance members and their households, declined to comment on Monday. Truist also declined to comment.
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The lawsuit explained Charlotte, North Carolina-based mostly Truist’s technique to deposit checks using illustrations or photos captured on a cell machine mimics know-how that USAA pioneered. San Antonio-primarily based USAA said it produced the technology in the mid-2000s to allow for its members to deposit checks from overseas.
USAA also explained Truist infringed its patents knowingly, noting its lawsuits from PNC and Wells Fargo were being “broadly talked over in the banking market.”
USAA gained $218 million from PNC Financial institution and above $300 million from Wells Fargo for copying its technological know-how in jury verdicts in East Texas.
Wells Fargo and USAA later settled for an undisclosed volume. PNC has requested Judge Rodney Gilstrap to throw out the May perhaps verdict in opposition to it.
The case is United Solutions Car Association v. Truist Lender, U.S. District Courtroom for the Eastern District of Texas, No. 2:22-cv-00291.
For USAA: Jason Sheasby and Lisa Glasser of Irell & Manella.
For Truist: not offered
(Be aware: This story has been current to include Truist declined to comment.)
Wells Fargo slapped with $200 million patent verdict in East Texas
USAA wins $218 mln verdict from PNC in cellular-deposit tech trial
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