NAFCU Statement on Senate Judiciary Committee Approval of S. 1137, the ‘PATENT Act’

WASHINGTON, DC (June 4,2015) — National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger issued the following statement in response to the bipartisan approval today by the Senate Judiciary Committee of S. 1137, the “Protecting American Talent and Entrepreneurship Act (PATENT).”

“We applaud Chairman Chuck Grassley (R-Iowa), Ranking Member Patrick Leahy (D-Vt.), and all the committee members for their dedication and leadership in working to eradicate patent trolls,” said Berger. “The 16-4 vote for approval shows that this is not a partisan issue, and that the committee members recognize the need for reform.  This is a positive development and a solid step forward in helping to stop abusive patent litigation.”

While S.1137 does not address the Covered Business Method Program that NAFCU had urged the committee to make permanent, it will significantly curb vague and deceptively-worded demand letters.  The bill is now headed to the full Senate, where more negotiations are expected to take place to further improve the legislation.

The National Association of Federal Credit Unions is the only national trade association that exclusively represents the interests of federally chartered credit unions before the federal government and the public.

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