The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Jun. 10, 2014
Filed:
May. 28, 2010
Jeffrey H. Bierer, Charlotte, NC (US);
Andrew Kramer, Charlotte, NC (US);
Robert M. Mauldin, Charlotte, NC (US);
Thomas Myrick, Charlotte, NC (US);
Jeffrey H. Bierer, Charlotte, NC (US);
Andrew Kramer, Charlotte, NC (US);
Robert M. Mauldin, Charlotte, NC (US);
Thomas Myrick, Charlotte, NC (US);
Bank of America Corporation, Charlotte, NC (US);
Abstract
A system and method for providing emergency reserve conditional credit to a customer of a financial institution. The emergency conditional credit may be provided to the customer in the form of a line-of-credit or a loan based on the occurrence of a predetermined condition, such as involuntary unemployment, disability or the like. The emergency reserve product of the present invention is a product that can be offered through a financial institution or other ER-providing entity and, as such, does not require the level of regulation required of an insurance product. The invention also provides for the emergency reserve product to be offered in conjunction with a debt cancellation feature, referred to as emergency reserve protection, which serves to cancel the outstanding debt associated with the loan or line-of-credit.