Chase Settles With NextCard Over Credit Card App IP

Law360, New York (August 29, 2011, 11:51 AM EDT) -- Sole remaining defendant Chase Bank USA NA on Friday settled a NextCard LLC suit in Texas accusing it and other banking giants of infringing three patents for online credit card applications.

NextCard and Chase asked U.S. District Judge Charles Evergingham to dismiss the claims, which were filed in 2009. The suit, which also targeted Citibank NA, Wells Fargo Financial Inc. and others, alleged that the defendants infringed the patents-in-suit by offering credit card applications that are transmitted over the Internet for real-time approval.

NextCard became the...
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