Dispatch
Bank of America and USAA sign a patent cross-license, ending a long-running mobile-banking IP fight
Finextra reports Bank of America and USAA — the online-first military bank — have entered a patent cross-license agreement granting each reciprocal use of the other's portfolio. USAA has spent years asserting its remote-deposit-capture and mobile-banking patents against large retail banks, so a reciprocal license rather than another infringement verdict is a notable change in posture. Terms were not disclosed. Single-source.
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