WASHINGTON–A credit union bill that seeks to stifle abusive lawsuits over patents has passed the House Judiciary Committee by a vote of 24-8. HR 9, the Innovation Act, is sponsored by Rep. Bob Goodlatte (R-VA), and provides specific conditions under which such litigation can be pursued in cases filed by what are often referred to as “patent trolls.” The bill’s specifics can be found here.
While the bill has credit union support, NAFCU, CUNA and other financial services firms have been pressing Congress to provide even greater protections around litigation related to commonly used technologies.