Patents by Inventor Edward J. Wehmer

Edward J. Wehmer 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: 7873571
    Abstract: The funds of a client of a brokerage, are automatically transferred into and retrieved from affiliated banks on an as-needed basis. Funds on deposit at banks are F.D.I.C. insured and earn interest. Multiple banks that are commonly owned and separately chartered and which receive brokerage account funds, enable the brokerage to multiply the F.D.I.C. insurance coverage for client funds. The aggregate amount of funds transferred into affiliated banks is limited to prevent runs on a bank. The funds of a client transferred into each bank is limited to multiply the amount of FDIC insurance that can be provided to each client of a brokerage.
    Type: Grant
    Filed: May 30, 2003
    Date of Patent: January 18, 2011
    Assignee: Wintrust Financial Corporation
    Inventor: Edward J. Wehmer