SunTrust, GE Slapped With Online Banking Patent Suits

Law360, San Francisco (April 24, 2014, 6:08 PM EDT) -- General Electric Capital Corp. and SunTrust Banks Inc. were hit with two separate lawsuits in Delaware federal court Wednesday that accuse their online banking systems of infringing Joao Bock Transaction Systems LLC's patent on secure transaction technology.

Joao Bock's lawsuit accuses the financial institutions of operating online bill pay and cash management services, as well as mobile alerts and mobile applications, that infringe U.S. Patent Number 7,096,003. The patent, titled “Transaction security apparatus,” was issued to Raymond Anthony Joao and Robert Richard Bock in 2006, according to the suits.

Yonkers, N.Y.-based Joao Bock accuses GE Capital and SunTrust of directly infringing...

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