The Senate Judiciary Committee voted Thursday to limit the potential damages banks would incur when they infringe patents during check-clearing processes.
The House Judiciary Committee approved a similar bill on Wednesday, meaning it will now be considered for a debate and vote on the floor of that chamber.
Banks and other financial institutes face arguably more allegations that they infringe on patented technology in the process of clearing checks than they do in virtually any other sphere in which they operate.
According to Goldman Sachs Group Inc., more than 50 such challenges are pending before a single court in Texas.
An amendment - to which lawmakers on the panel unanimously agreed - would impose limits on damages awarded by judges or juries in check-clearing cases.
The amendment does not specify what those limits would be, but the fact that senators have agreed to the measure is considered a victory for the financial services industry.
Lawmakers are also considering a series of amendments to a bill that would introduce sweeping changes to the country's patent laws. It is the second hearing in a week before the Judiciary Committee.
The bill is viewed in Congress and the affected industries alike as the most wide-ranging reform of patent laws in half a century.
It covers all aspects of the patent process, including applications, damages, and the authority of the Patent Office.
