San Antonio’s USAA scores another court victory against a big bank over patents
In the first case, a jury in late 2019 awarded USAA $200 million in damages after finding Wells Fargo infringed on two patents. Then, in early 2020, another jury awarded USAA $102.8 million in damages in the second case.
McKinley said it’s always been USAA’s goal to be “reasonably compensated for the investment in mobile banking innovation it has made on behalf of our members and the military community.” USAA has about 13 million members comprised of current service members, veterans and their families. The technology allows bank customers to use their mobile devices to photograph and then deposit checks without visiting a branch or sending checks by mail. USAA said it pioneered the technology to help its customers, many of whom are are deployed outside the U.S.
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