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Wells Fargo Told to Pay $102.8 Million in Patent Verdict

Jan. 10, 2020, 10:36 PM

Wells Fargo & Co. was told to pay $102.8 million after a federal jury in Texas said in infringed United Services Automobile Association’s patents for a mobile deposit system.

It’s the second trial Wells Fargo has lost against USAA. In November, a different Texas jury said the bank should pay $200 million for infringing two other patents. That brings the total to about $303 million owed by the San Francisco-based Wells Fargo. Wells Fargo said it “strongly disagrees” with the verdict and said it’s considering its option, including a likely appeal.

San Antonio-based USAA said it had pioneered systems ...

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