A jury in Harris County, Texas has ruled that a Missouri company misappropriated the technology for a bounced check program from Strunk and Associates here. The jury ruled that BancServices Group, along with its sole principal, Glenn Ault, which had been selling to banks and CUs a nonsufficient funds (NSF) fee-enhancement plan called "BounceSafe," illegally used intellectual property that belongs to Strunk and Associates, which markets its "Overdraft Privilege" NSF fee-enhancement plan.
In an earlier settlement, Ault and his company agreed not to use Strunk's Overdraft Privilege program, but Strunk said the agreement was not honored. Penalties in the court case are to be set at later date.
Strunk's Overdraft Privilege program is being used at more than 600 financial institutions. For info: www.strunklp.com.