Should Congress Loosen Patent Laws for the Sake of the Banking Industry?

Wednesday, June 15, 2011

The banking industry, like basically all commercial industry, is always looking for ways to innovate their products and services. Take ATMs or the kind of innovation that allows customers to view the image of their check right on their banking receipt - those cost money to develop. And the banking industry has been lobbying to change the patent laws tied to these sorts of business innovations.

Sen. Chuck Schumer got them a little closer to their goal this week when he slipped in a provision into a patent bill that would benefit the banking industry. Louise Story, Wall Street and finance reporter for The New York Times joins us to explain why Schumer is pushing the provision.

Produced by:

Jen Poyant


Louise Story

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.