Wells Fargo lost a major patent battle with USAA bank.
The offending issue? Electronic check deposit.
Recently laid off or being threatened with a layoff and want to get even?
Write yourself $0.01 checks and use mobile deposit app to deposit them into your account.
USAA is asking for $0.85 per mobile check deposit from Wells Fargo for every mobile deposit ever done by using USAA's stolen idea without paying for it; not unlike forcing you to train your indian replacement.
"Wells Fargo has generated $1.2 billion in profit from the use of this system. We’ll be asking for no less than
- 85 cents per successful mobile deposit,”
said USAA’s attorney, Jason Sheasby, of Irell & Manella law firm of Los Angeles, California, noting that equates to $102,792,510 in damages that they are seeking."
Every 100 checks you deposit using Wells Fargo mobile deposit app may cost the bank $85 (its not a setttled case...may be more).
If you've been laid off and looking to close Wells Fargo accounts anyway, here is a nice way to use up your old checkbook before closing the account.
It might not sound like a lot, but if 10000 people do this, it will cost the bank almost the same as 1 week of Chucks salary.
https://www.marshallnewsmessenger.com/news/usaa-wells-fargo-returns-to-marshall-court-for-ongoing-patent-lawsuit/article_202b6ce8-31ab-11ea-b934-bf1bc53324f3.html