Patents by Inventor Bruce Bent

Bruce Bent has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • Patent number: 7398245
    Abstract: This invention includes methods and systems for providing participants in benefit plans with loans related to the participants' vested assets in the benefit plans. Administrative systems of this invention provide for loan-fund account setup and modification, manage account use, interface to established access vehicles (check, credit card, debit card, wire transfer, ACH, sweeps, ATMs, etc.), as well as to established benefit-plan management systems. Methods of this invention manage participant loans in accordance with statutes, regulations, and policies applicable in relevant jurisdictions. Overall, this invention provides participants low cost financing using tax-advantaged assets which is particularly useful to individuals without other access to alternative low cost credit.
    Type: Grant
    Filed: June 27, 2002
    Date of Patent: July 8, 2008
    Assignee: Reserve Solutions, Inc.
    Inventors: Bruce Bent, Bruce Bent, II, Mark Vernaglia
  • Publication number: 20080120228
    Abstract: Providing interest to clients' deposited funds without limitation on the number of demand withdrawals from deposit accounts is accomplished by an administration system that keeps all of the records for the clients' deposits and withdrawals, calculates the total of the deposits and withdrawals for all clients, and uses the calculation to determine whether funds are deposited to or withdrawn from one or more deposit accounts in which all clients' deposit funds are kept. Clients can make unlimited withdrawals, such as by check, credit card, debit card, or electronic transfer, through the administrator. By placing the administrator as the holder of the deposit account(s), exemptions to the limitation on earning interest in demand accounts is facilitated; additionally, dispersing the deposit account funds among multiple banks allows the client to obtain FDIC insurance for all of the deposited funds, which may amount to insurance in excess of the statutory maximum allowed (presently $100,000.00).
    Type: Application
    Filed: October 31, 2007
    Publication date: May 22, 2008
    Inventors: Bruce Bent, Bruce Bent
  • Publication number: 20080046361
    Abstract: Novel systems and methods for managing a plurality of client demand accounts so as to allow a banking institution to retain client deposits on the bank's balance sheets while, at the same time, providing the client with the capability of implementing up to an unlimited number of transactions per month and also providing the client with interest on their account balances. These objectives are achieved through the use of a pooled deposit account at the client's savings institution or bank. Funds are transferred from individual client demand accounts to the pooled insured deposit account. All or a portion of the interest accrued from the pooled deposit account is then distributed to individual clients. The interest may, but need not, be distributed according to the relative proportions of each client's funds in the pooled deposit account.
    Type: Application
    Filed: February 8, 2002
    Publication date: February 21, 2008
    Applicant: Reserve Management Corporation
    Inventors: Bruce BENT, Bruce BENT
  • Patent number: 7302413
    Abstract: This invention includes methods and systems for providing participants in benefit plans with loans related to the participants' vested assets in the benefit plans. Administrative systems of this invention provide for loan-fund account setup and modification, manage account use, interface to established access vehicles (check, credit card, debit card, wire transfer, ACH, sweeps, ATMs, etc.), as well as to established benefit-plan management systems. Methods of this invention manage participant loans in accordance with statutes, regulations, and policies applicable in relevant jurisdictions. Overall, this invention provides participants low cost financing using tax-advantaged assets which is particularly useful to individuals without other access to alternative low cost credit.
    Type: Grant
    Filed: March 6, 2002
    Date of Patent: November 27, 2007
    Assignee: Reserve Management Corporation
    Inventors: Bruce Bent, Bruce Bent, II, Mark Vernaglia
  • Publication number: 20070271174
    Abstract: Providing interest to clients' deposited funds without limitation on the number of demand withdrawals from deposit accounts is accomplished by an administration system that keeps all of the records for the clients' deposits and withdrawals, calculates the total of the deposits and withdrawals for all clients, and uses the calculation to determine whether funds are deposited to or withdrawn from one or more deposit accounts in which all clients' deposit funds are kept. Clients can make unlimited withdrawals, such as by check, credit card, debit card, or electronic transfer, through the administrator. By placing the administrator as the holder of the deposit account(s), exemptions to the limitation on earning interest in demand accounts is facilitated; additionally, dispersing the deposit account funds among multiple banks allows the client to obtain FDIC insurance for all of the deposited funds, which may amount to insurance in excess of the statutory maximum allowed (presently $100,000.00).
    Type: Application
    Filed: October 2, 2000
    Publication date: November 22, 2007
    Applicant: Reserve Management Corporation
    Inventors: Bruce BENT, Bruce BENT
  • Publication number: 20060224480
    Abstract: A data processing system, program product, and method is provided for managing at least one credit-granting account of a participant.
    Type: Application
    Filed: March 29, 2005
    Publication date: October 5, 2006
    Inventors: Bruce Bent, Bruce Bent, Mark Vernaglia
  • Publication number: 20060212385
    Abstract: Abstract of the Disclosure Providing interest to clients’ deposited funds without limitation on the number of demand withdrawals from deposit accounts is accomplished by an administration system that keeps all of the records for the clients’ deposits and withdrawals, calculates the total of the deposits and withdrawals for all clients, and uses the calculation to determine whether funds are deposited to or withdrawn from one or more deposit accounts in which all clients’ deposit funds are kept. Clients can make unlimited withdrawals, such as by check, credit card, debit card, or electronic transfer, through the administrator.
    Type: Application
    Filed: October 2, 2000
    Publication date: September 21, 2006
    Applicant: Reserve Management Corporation
    Inventors: Bruce Bent, Bruce Bent
  • Publication number: 20060212389
    Abstract: Abstract of the Disclosure Novel systems and methods for managing a plurality of client demand accounts so as to allow a banking institution to retain client deposits on the bank’s balance sheets while, at the same time, providing the client with the capability of implementing up to an unlimited number of transactions per month and also providing the client with interest on their account balances. These objectives are achieved through the use of a pooled deposit account at the client’s savings institution or bank. Funds are transferred from individual client demand accounts to the pooled insured deposit account. All or a portion of the interest accrued from the pooled deposit account is then distributed to individual clients. The interest may, but need not, be distributed according to the relative proportions of each client’s funds in the pooled deposit account.
    Type: Application
    Filed: February 8, 2002
    Publication date: September 21, 2006
    Applicant: Reserve Management Corporation
    Inventors: Bruce Bent, Bruce Bent
  • Publication number: 20050228733
    Abstract: Providing interest to clients' deposited funds without limitation on the number of demand withdrawals from deposit accounts is accomplished by an administration system that keeps all of the records for the clients' deposits and withdrawals, calculates the total of the deposits and witndrawals for all clients, and uses the calculation to determine whether funds are deposited to or withdrawn from one or more deposit accounts in which all clients' deposit funds are kept. Clients can make unlimited withdrawals, such as by check, credit card, debit card, or electronic transfer, through the administrator. By placing the administrator as the holder of the deposit account(s), exemptions to the limitation on earning interest in demand accounts is facilitated; additionally, dispersing the deposit account funds among multiple banks allows the client to obtain FDIC insurance for all of the deposited funds, which may amount to insurance in excess of the statutory maximum allowed (presently $100,000.00).
    Type: Application
    Filed: June 10, 2005
    Publication date: October 13, 2005
    Inventors: Bruce Bent, Bruce Bent
  • Publication number: 20050108149
    Abstract: Abstract of the Disclosure Providing interest to clients’ deposited funds without limitation on the number of demand withdrawals from deposit accounts is accomplished by an administration system that keeps all of the records for the clients’ deposits and withdrawals, calculates the total of the deposits and withdrawals for all clients, and uses the calculation to determine whether funds are deposited to or withdrawn from one or more deposit accounts in which all clients’ deposit funds are kept. Clients can make unlimited withdrawals, such as by check, credit card, debit card, or electronic transfer, through the administrator.
    Type: Application
    Filed: October 2, 2000
    Publication date: May 19, 2005
    Applicant: Reserve Management Corporation
    Inventors: Bruce Bent, Bruce Bent
  • Publication number: 20020091637
    Abstract: Novel systems and methods for managing a plurality of client demand accounts so as to allow a banking institution to retain client deposits on the bank's balance sheets while, at the same time, providing the client with the capability of implementing up to an unlimited number of transactions per month and also providing the client with interest on their account balances. These objectives are achieved through the use of a pooled deposit account at the client's savings institution or bank. Funds are transferred from individual client demand accounts to the pooled insured deposit account. All or a portion of the interest accrued from the pooled deposit account is then distributed to individual clients. The interest may, but need not, be distributed according to the relative proportions of each client's funds in the pooled deposit account.
    Type: Application
    Filed: February 8, 2002
    Publication date: July 11, 2002
    Inventors: Bruce Bent, Bruce Bent
  • Patent number: 6374231
    Abstract: Providing interest to clients' deposited finds without the legal limitation on the number of demand withdrawals from deposit accounts is accomplished by an administration system that keeps all of the records for the clients' deposits and withdrawals, calculates the total of the deposits and withdrawals for all clients, and uses the calculation to determine whether funds are deposited to or withdrawn from a single deposit account in which all clients' deposit funds are kept. Clients can make unlimited withdrawals, such as by check, credit card, debit card, or electronic transfer, through the administrator. By placing the administrator as the holder of a single account, legal exemptions to the limitation on earning interest in demand accounts is facilitated.
    Type: Grant
    Filed: October 21, 1998
    Date of Patent: April 16, 2002
    Inventors: Bruce Bent, Bruce Bent, II