Newsroom

Back to the Newsroom
February 24, 2015

CUs need relief from patent trolls, Hunt tells panel

NAFCU reiterated credit unions' growing concerns about patent-trolls' demand letters and the need for legislative relief in a letter Tuesday to a House Energy and Commerce subcommittee from Carrie Hunt, the association's senior vice president of government affairs and general counsel.

Hunt, writing to Subcommittee on Commerce, Manufacturing and Trade Chairman Michael Burgess, R-Texas, and Ranking Member Jan Schakowsky, D-Ill., thanked the panel for scheduling a hearing tomorrow on this issue. She recounted the concerns of credit unions in receipt of letters from patent assertion entities stating "vague" or "hypothetical" theories of infringement. Those letters are aimed at coercing businesses into financial settlements to avoid costly, potentially drawn-out litigation.

Legislation is needed "to alter the intimidating business model used by these patent assertion entities," Hunt said, adding that NAFCU will continue to support Congress' efforts to curb such activity.

The subcommittee's hearing, "Update: Patent Demand Letter Practices and Solutions," is slated for 10:15 a.m. Thursday.

Related Resources

Add to Calendar 2024-05-02 14:00:00 2024-05-02 14:00:00 Mastering Resilience in Incident Response Plans About the Webinar An Incident Response (IR) plan is crucial for guiding credit unions through major incidents efficiently and effectively. However, many IR plans lack resilience, making them less adaptable to the evolving threat landscape.  Join us for our webinar Mastering Resilience in Incident Response Plans where DefenseStorm cyber experts Elizabeth Houser and James Bruhl will delve into the importance of resiliency within cybersecurity IR plans.  Don’t miss out on the opportunity to learn how to:  Ensure IR plan accessibility so that all team members with assigned roles are prepared for effective incident response.  Conduct efficient and regular reviews to ensure roles and responsibilities are current, tools are relevant, and compliance requirements are met.  Implement and utilize tabletops to regularly test the effectiveness of your IR plan.  Enhance preparedness, efficiency, and confidence among responders.  View On-Demand Web NAFCU digital@nafcu.org America/New_York public

Mastering Resilience in Incident Response Plans

preferred partner
DefenseStorm
Webinar
Add to Calendar 2024-04-30 14:00:00 2024-04-30 14:00:00 State of Consumer Credit: How Behaviors have Shifted and Trends in US Bankcard Benchmarks About the Webinar In an era marked by volatility and evolving credit trends such as historic inflation and the rise of BNPL, credit unions must adapt to mitigate risks effectively. Join the experts at FICO in exploring how to leverage FICO Scores to enhance competitiveness while maintaining stability and compliance.   Key Takeaways:  Learn about the latest in consumer credit behaviors and score distributions since the pandemic  Take a closer look at major US bankcard trends in comparison to the credit union industry, such as average card spend, balance, missed payments and more.   View On-Demand Web NAFCU digital@nafcu.org America/New_York public

State of Consumer Credit: How Behaviors have Shifted and Trends in US Bankcard Benchmarks

preferred partner
FICO
Webinar
Add to Calendar 2024-04-25 14:00:00 2024-04-25 14:00:00 ChatGPT: What AI can do for you! ChatGPT has been created with one main objective – to predict the next word in a sentence, based on what's typically happened in the gigabytes of text data that it's been trained on. Did you ever hear of the saying, “People fear the unknown?” Artificial intelligence scares people, but it is the future, and you need to understand the tools and resources it offers. It’s also about saving time, that’s what technology and in this case, artificial intelligence can do for you.  If you want to save time and have a better quality of life, this training is for you. Once you give ChatGPT a question or prompt, it passes through the AI model and the chatbot produces a response based on the information you've given and how that fits into its vast amount of training data. It's during this training that ChatGPT has learned what word, or sequence of words, typically follows the last one in a given context. During this webinar, ChatGPT: What AI can do for you, you’ll discover the background, purpose, usability, and the pros and cons. Don't miss this opportunity! Key Takeaways Learn the background of AI Understand the purpose of AI Identify the pros and cons    Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until April 25, 2025Go to the Online Training Center to access the webinar after purchase »   Who Should Attend NCRMs Risk titles Education Credits NCRMs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public

ChatGPT: What AI can do for you!

Credits: NCRM

Webinar
Add to Calendar 2024-04-25 14:00:00 2024-04-25 14:00:00 Unifying Two Different Executive Benefits Programs About the Webinar In part one we discussed how to retain key positions during a time of transition. In part two, we will look at how to combine executive benefits programs from two different organizations into a single high-performing program. Evaluating each program includes many different facets, from strategy and expense to performance and servicing. This session will provide important considerations, whether or not you have pending M&A activity.  Key Takeaways: Is the plan design both retentive and efficient?  Is the benefit expense properly mitigated?  Does the legal agreement reflect the board’s intent?  View On-Demand Web NAFCU digital@nafcu.org America/New_York public

Unifying Two Different Executive Benefits Programs

preferred partner
Gallagher
Webinar