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Mobile Deposit Patent Lawsuit
A United States District Court in Texas recently awarded United Services Automobile Association (“USAA”) a $102.8 million verdict against Wells Fargo in a mobile deposit patent lawsuit filed in August 2018. USAA alleged that the mobile deposit capture technology used by Wells Fargo infringed on USAA’s patent held in the technology. This is the second judgment awarded to USAA in relation to its mobile deposit technology patent; it was awarded a $200 million verdict against...
Planning for the End of LIBOR
While every participant in the financial markets knows that the London Interbank Offered Rate (LIBOR) is not guaranteed after 2021, few have taken steps to prepare for LIBOR’s end. Many variable rate notes are pegged to LIBOR as the reference rate; many notes executed today which reference LIBOR will nonetheless continue to be effective and will ultimately mature in a LIBOR-less world. In 2015, the U.S. Federal Reserve established a committee comprised of key market...
Realtors Should Guard Against Discriminatory Practices
Study reveals housing discrimination by real estate licensees By: James L. Goldsmith, Esquire An article that appeared in the New York Times in November 2019 cited study results showing housing discrimination by real estate licensees. Investigators posing as white buyers received different treatment than buyers of color and of other minority classifications. Among the allegations was steering. Licensees directed buyers to properties that, in the opinions of the licensees, would be more welcoming of the...
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