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NAFCU's letter outlining concerns about patent troll activity and its impact on credit unions was entered into the record of Thursday's House Energy and Commerce subcommittee hearing on patent reform.

The hearing, by the Subcommittee on Commerce, Manufacturing and Trade, focused on how federal law could approach the patent troll problem, assist small businesses that are targeted, coexist with state laws and define "bad faith" in terms of patent demand letters.

In the NAFCU letter, association Senior Vice President of Government Affairs and General Counsel Carrie Hunt reiterated credit unions' growing concerns about patent-trolls' demand letters and the need for legislative relief.

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.

A letter signed by NAFCU and other trades was also entered into the record of yesterday's hearing.