Credit unions have now joined the list of financial institutions being targeted by what an industry association calls a "patent troll." And it's apparently no phishing trip. They're real live lawsuits and they're reportedly being settled for real money in some cases.
The Credit Union Information Security Professionals Association (CUISPA) said a company called Wolf Run Hollow LLC is now including credit unions in the series of complaints it's filed in several states, charging infringement on its patent for a widely used piece of modern banking technology – message alerts.
The IT security trade group put out the following alert of its own this week:
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
