Fiserv, Federal Reserve Banks Sued

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ST. LOUIS - A Canadian software company has filed suit in federal court here against Fiserv and three client Federal Reserve Banks claiming that Fiserv is infringing on its patent for check fraud software.

Advanced Software Design, of Richmond Hill, Ontario, claims that Fiserv's FraudGuard Secure Seal Positive Pay check fraud software, which it has licensed to the Federal Reserve Banks of St. Louis, Philadelphia and Atlanta, infringes on three of its patents.

The suit seeks a court order preventing Fiserv from further infringement on the patents and for compensation. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.

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