Newsroom
May 20, 2014
Thaler urges legislative fix for patent-troll problem
May 21, 2014 – NAFCU Vice President of Legislative Affairs Brad Thaler urged a legislative solution to the patent troll problem Wednesday in a letter to the leaders of the House Energy and Commerce Subcommittee on Commerce, Manufacturing and Trade.
Thaler wrote in advance of the subcommittee's hearing, scheduled for tomorrow, to review draft legislation from panel Chairman Lee Terry, R-Neb., to combat so-called patent "trolls" and abusive litigation.
"A growing number of credit unions are reporting receipt of demand letters from law firms representing patent assertion entities, claiming patent infringement, with the option to settle or face litigation," Thaler wrote. "These deceptive letters are confusing and misleading as they often allege that the use of everyday technology violates the patent holders' rights … NAFCU believes a legislative solution is necessary to alter the intimidating business model used by these patent assertion entities."
Earlier this month, NAFCU joined with several other organizations to urge Senate Judiciary Committee Chairman Patrick Leahy, D-Vt., and Ranking Member Chuck Grassley, R-Iowa, to put a stop to patent abuse with legislation that would provide relief from frivolous lawsuits.
The letter was sent by the Main Street Patent Coalition, a national, non-partisan coalition of organizations dedicated to stopping patent abuse from trolls by encouraging Congress to pass reform legislation.
Thaler wrote in advance of the subcommittee's hearing, scheduled for tomorrow, to review draft legislation from panel Chairman Lee Terry, R-Neb., to combat so-called patent "trolls" and abusive litigation.
"A growing number of credit unions are reporting receipt of demand letters from law firms representing patent assertion entities, claiming patent infringement, with the option to settle or face litigation," Thaler wrote. "These deceptive letters are confusing and misleading as they often allege that the use of everyday technology violates the patent holders' rights … NAFCU believes a legislative solution is necessary to alter the intimidating business model used by these patent assertion entities."
Earlier this month, NAFCU joined with several other organizations to urge Senate Judiciary Committee Chairman Patrick Leahy, D-Vt., and Ranking Member Chuck Grassley, R-Iowa, to put a stop to patent abuse with legislation that would provide relief from frivolous lawsuits.
The letter was sent by the Main Street Patent Coalition, a national, non-partisan coalition of organizations dedicated to stopping patent abuse from trolls by encouraging Congress to pass reform legislation.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 The Evolving Role of the CISO in Credit Unions Listen On: Key Takeaways: [01:30] Being able to properly implement risk management decisions, especially in the cyber age we live in, is incredibly important so CISOs have a lot of challenges here. [02:27] Having a leader who can really communicate cyber risks and understand how ready that institution is to deal with cyber events is incredibly important. [05:36] We need to be talking about risk openly. We need to be documenting and really understanding what remediating risk looks like and how you do that strategically. [16:38] Governance, risk, compliance, and adherence to regulatory controls are all being looked at much more closely. You are also seeing other technology that is coming into the fold directly responsible for helping CISOs navigate those waters. [18:28] The reaction from the governing bodies is directly related to the needs of the position. They’re trying to help make sure that we are positioned in a way that gets us the most possibility of success, maturing our postures and protecting the institutions. Web NAFCU digital@nafcu.org America/New_York public
The Evolving Role of the CISO in Credit Unions
preferred partner
DefenseStorm
Podcast
Get daily updates.
Subscribe to NAFCU today.