DataTreasury, U.S. Bancorp Settle Image-Capture Patent Dispute

A check-imaging technology provider has settled its federal patent-infringement claims against U.S. Bancorp for undisclosed terms.

DataTreasury Corp. asked a federal judge on Dec. 23 to drop the case after reaching the settlement and a release and licensing deal with U.S. Bancorp, according to the Minneapolis/St. Paul Business Journal, which said the settlement still needs approval from Judge David Folsom.

In March 2010, a jury in the U.S. District Court for the Eastern District of Texas awarded Plano, Texas-based DataTreasury almost $27 million and found that the Minneapolis bank, Viewpointe LLC and The Clearing House Payments Co. LLC willfully infringed its technology (see story).  Folsom later increased this amount to $53.2 million to "more effectively punish the willful infringement," according to the Minneapolis/St. Paul Business Journal.

The patents cover a system for the remote-image capture and centralized processing, storage and retrieval of documents and other paper transaction data.

DataTreasury has filed a series of lawsuits, including one in March, against more than 70 banks, bank holding companies and other financial-services firms over the past decade. Several financial companies, including JPMorgan Chase & Co. and Zions Bancorp, have signed licensing agreements with DataTreasury.

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