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Bank of America and USAA sign two-way patent cross-license

Bank of America logoBank of America
Sig2.40Sen+3.20Env0.00Soc0.00Gov+1.20

Bank of America and USAA signed a cross-license agreement that lets each firm use the other’s full patent portfolios. The deal is described as USAA’s first two-way patent agreement with another financial institution. USAA previously sued Fifth Third over mobile deposit capture patents, while Bank of America cited a nearly 70% rise in patents owned over five years.

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