U.S. Bank could lose $200M in patent case
“U.S. Bancorp stands to lose $200 million, and maybe more, in a patent dispute that the Minneapolis-based banking company and other banks across the country are fighting in a federal court in Texas…”
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Plaintiff DataTreasury Corp. is asserting six U.S. patents against various defendants in this suit:
- U.S. Patent No. 5,910,988 for an invention in remote image capture with centralized processing and storage
- U.S. Patent No. 6,032,137 for an invention in a remote image capture with centralized processing and storage
- U.S. Patent No. 5,265,007 for an invention of a central check clearing system
- U.S. Patent No. 5,583,759 for an invention with a mechanism for expediting the deposit, transport, and submission of checks into the payment system
- U.S. Patent No. 5,717,868 for an invention with an electronic payment interchange concentrator
- U.S. Patent No. 5,930,778 for an invention with a system for expediting the clearing of financial instruments and coordinating the same with invoice processing at the point of receipt
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