Patents by Inventor Jeffrey H. Bierer
Jeffrey H. Bierer 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).
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Publication number: 20150287137Abstract: Systems, methods, and computer program products are provided for providing a financial health indicator based on the user's credit report score and the user's budget indicator. Implemented in conjunction with a budget tracking system, the invention may provide financial health indicators indicating both short-term budget impact and long-term budget impact. In addition, certain embodiments provide for recognizing recurring expenditures and automatically providing the user with the budget impact of such recurring expenditures as a financial health indicator.Type: ApplicationFiled: April 7, 2014Publication date: October 8, 2015Applicant: BANK OF AMERICA CORPORATIONInventors: Kazi M. Ariff, Carol A. Smith, Shane A. Johnson, Russell W. Tipper, Yicong Li, Sean M. O'Connor, Thomas D. Kelley, Susan S. Thomas, William F. Borowski, William J. Aheron, Judith M. Anderson, Steven K. Hayes, Neal G. Wolfson, Jeffrey P. Judd, James P. Kirkman, Jeffrey H. Bierer
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Publication number: 20150221044Abstract: Systems, methods, and computer program products are provided for a financial health indicator. The financial health indicator provides a dynamic indication of a user's financial health in terms of their current credit and their current ability to save in relation to a budget. The systems, methods, and computer program products also provide for user-configured spending guardrails in a budget tracking system. The use of spending guardrails is instrumental in insuring that the user of the budget tracking system adheres to their assigned budget. By providing for dynamically configurable spending thresholds the user may define, change, suspend, or the like spending guardrails as dictated by current circumstances. The configurable nature of the guardrails insures that guardrails are tailored to the needs of the individual user.Type: ApplicationFiled: May 15, 2014Publication date: August 6, 2015Applicant: BANK OF AMERICA CORPORATIONInventors: KAZI M. ARIFF, CAROL A. SMITH, SHANE A. JOHNSON, RUSSELL W. TIPPER, YICONG LI, SEAN M. O'CONNOR, THOMAS D. KELLEY, SUSAN S. THOMAS, WILLIAM F. BOROWSKI, WILLIAM J. AHERON, JUDITH M. ANDERSON, STEVEN K. HAYES, NEAL G. WOLFSON, JEFFREY P. JUDD, JAMES P. KIRKMAN, JEFFREY H. BIERER
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Patent number: 8751377Abstract: 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.Type: GrantFiled: May 28, 2010Date of Patent: June 10, 2014Assignee: Bank of America CorporationInventors: Jeffrey H. Bierer, Andrew Kramer, Robert M. Mauldin, Thomas Myrick
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Patent number: 8706613Abstract: A system and method for providing emergency conditional credit to a customer of a financial institution. The system includes a customer site and a financial institution. The financial institution determines actuarial data using past history of customers incurring specified events, the actuarial data useable to predict future specified events, determines a cost for offering an emergency reserve (ER) product using the actuarial data, determines a qualification standard for the ER product, and offers the ER product to a person at the customer site. An emergency reserve protection (ERP) feature that provides protection that cancels any ER balance on a monthly basis during a covered event may also be offered to customers. One or more vendor sites may be used to handle some of the processing or managing of the ER and ERP product offerings.Type: GrantFiled: August 15, 2007Date of Patent: April 22, 2014Assignee: Bank of America CorporationInventors: Jeffrey H. Bierer, Andrew Kramer, Robert M. Mauldin, Thomas Myrick
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Patent number: 8447692Abstract: Apparatus and methods for providing a personal financial network service are provided. The method may use an electronic information processing platform. The method may include storing information relating to a first participant account. The method may also include storing information relating to a second participant account. The systems and methods of the invention may further include storing information relating to a group of accounts containing the first participant and the second participant account, wherein first said account and second said account are stored independently of one another.Type: GrantFiled: March 20, 2009Date of Patent: May 21, 2013Assignee: Bank of America CorporationInventors: Susan S. Thomas, William F. Borowski, Kazi M. Ariff, Carol A. Smith, Judith M. Anderson, Steven K. Hayes, Thomas D. Kelley, Neal G. Wolfson, Sean M. O'Connor, Russell W. Tipper, Jeffrey P. Judd, William J. Aheron, Yicong Li, Shane A. Johnson, James P. Kirkman, Jeffrey H. Bierer
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Patent number: 8412622Abstract: Systems, methods, and computer program products are provided for a financial health indicator. The financial health indicator provides a dynamic indication of a user's financial health in terms of their current credit worthiness and their current ability to save in relation to a budget. In this regard, the financial health indicator is based on a user's credit report score, such as one or more FICO type credit scores and the user's savings as indicated by a budget tracking system. In embodiments of the invention in which the financial health indicator is implemented in conjunction with a budget tracking system, the financial health indicator provides necessary feedback to the user that serves to inform the user as to how they are performing in terms of staying on track to their individual budget allocations. Additionally, in certain embodiments, the provider of the budget tracking system may provide for awards based on achieving a predefined financial health indicator level and/or score.Type: GrantFiled: March 30, 2009Date of Patent: April 2, 2013Assignee: Bank of America CorporationInventors: Kazi M. Ariff, Carol A. Smith, Shane A. Johnson, Russell W. Tipper, Yicong Li, Sean M. O'Connor, Thomas D. Kelley, Susan S. Thomas, William F. Borowski, William J. Aheron, Judith M. Anderson, Steven K. Hayes, Neal G. Wolfson, Jeffrey P. Judd, James P. Kirkman, Jeffrey H. Bierer
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Publication number: 20120046973Abstract: Embodiments of the invention include systems, methods, and computer-program products that provide for a unique unemployment insurance marketing system. In one embodiment of the invention, the unemployment insurance marketing system determines selection criteria for the unemployment insurance product. The system then receives data associated with a user, the data received from a financial institution. The system compares the selection criteria with the user data to determine whether the user qualifies to receive an offer. If the user qualifies to receive an offer, the system offers the unemployment insurance to the user. In another embodiment of the invention, the offer is customized to the user's expenses. For example, the offer may be customized based on user's expenses in an online bill payment system.Type: ApplicationFiled: August 23, 2010Publication date: February 23, 2012Applicant: BANK OF AMERICA CORPORATIONInventors: Robert H. Eshleman, Robert M. Mauldin, III, Allan S. Voltz, III, Jeffrey H. Bierer
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Publication number: 20120046974Abstract: Embodiments of the invention include systems, methods, and computer-program products that provide for a unique unemployment insurance underwriting system. In one embodiment of the invention, the unemployment insurance underwriting system receives a request to enroll in the unemployment insurance from a user. The system then receives data associated with the user from a financial institution. The system then determines the benefits to be paid to the user based, in some cases, on the data received from the financial institution. The system then determines whether the user qualifies to enroll in the unemployment insurance based on the benefits and the user data. In an embodiment of the invention, the unemployment insurance provides benefits for monthly expenses to users that have become involuntarily unemployed.Type: ApplicationFiled: August 23, 2010Publication date: February 23, 2012Applicant: BANK OF AMERICA CORPORATIONInventors: Robert H. Eshleman, Robert M. Mauldin, III, Allan S. Voltz, III, Jeffrey H. Bierer
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Publication number: 20110087594Abstract: 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.Type: ApplicationFiled: October 4, 2010Publication date: April 14, 2011Applicant: BANK OF AMERICA CORPORATIONInventors: Jeffrey H. Bierer, Robert M. Mauldin, III
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Publication number: 20100306108Abstract: 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.Type: ApplicationFiled: May 28, 2010Publication date: December 2, 2010Applicant: BANK OF AMERICA CORPORATIONInventors: Jeffrey H. Bierer, Andrew Kramer, Robert M. Mauldin, Thomas Myrick
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Publication number: 20100250420Abstract: Systems, methods, and computer program products are provided for user-configured spending guardrails in a budget tracking system. The use of spending guardrails is instrumental in insuring that the user of the budget tracking system adheres to their assigned budget. By providing for dynamically configurable spending thresholds the user may define, change, suspend or the like spending guardrails as dictated by current circumstances. The configurable nature of the guardrails insures that guardrails are tailored to the needs of the individual user.Type: ApplicationFiled: March 30, 2009Publication date: September 30, 2010Applicant: BANK OF AMERICA CORPORATIONInventors: Kazi M. Ariff, Carol A. Smith, Shane A. Johnson, Russell W. Tipper, Yicong Li, Sean M. O'Connor, Thomas D. Kelley, Susan S. Thomas, William F. Borowski, William J. Aheron, Judith M. Anderson, Steven K. Hayes, Neal G. Wolfson, Jeffrey P. Judd, James P. Kirkman, Jeffrey H. Bierer
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Publication number: 20100250421Abstract: Systems, methods, and computer program products are provided for a dynamic determination of the budget impact on expenditures, such as expenditures, potential expenditures, cost adjustments and the like. Implemented in conjunction with a budget tracking system, the budget impact determiner of the present invention may provide for both short-term budget impact and long-term budget impact. In addition, certain embodiments provide for recognizing recurring expenditures and automatically providing the user with the budget impact of such recurring expenditures.Type: ApplicationFiled: March 30, 2009Publication date: September 30, 2010Applicant: BANK OF AMERICA CORPORATIONInventors: Kazi M. Ariff, Carol A. Smith, Shane A. Johnson, Russell W. Tipper, Yicong Li, Sean M. O'Connor, Thomas D. Kelley, Susan S. Thomas, William F. Borowski, William J. Aheron, Judith M. Anderson, Steven K. Hayes, Neal G. Wolfson, Jeffrey P. Judd, James P. Kirkman, Jeffrey H. Bierer
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Publication number: 20100250430Abstract: Systems, methods, and computer program products are provided for a financial health indicator. The financial health indicator provides a dynamic indication of a user's financial health in terms of their current credit worthiness and their current ability to save in relation to a budget. In this regard, the financial health indicator is based on a user's credit report score, such as one or more FICO type credit scores and the user's savings as indicated by a budget tracking system. In embodiments of the invention in which the financial health indicator is implemented in conjunction with a budget tracking system, the financial health indicator provides necessary feedback to the user that serves to inform the user as to how they are performing in terms of staying on track to their individual budget allocations. Additionally, in certain embodiments, the provider of the budget tracking system may provide for awards based on achieving a predefined financial health indicator level and/or score.Type: ApplicationFiled: March 30, 2009Publication date: September 30, 2010Applicant: BANK OF AMERICA CORPORATIONInventors: Kazi M. Ariff, Carol A. Smith, Shane A. Johnson, Russell W. Tipper, Yicong Li, Sean M. O'Connor, Thomas D. Kelley, Susan S. Thomas, William F. Borowski, William J. Aheron, Judith M. Anderson, Steven K. Hayes, Neal G. Wolfson, Jeffrey P. Judd, James P. Kirkman, Jeffrey H. Bierer
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Publication number: 20100250419Abstract: Systems, methods, and computer program products are provided for a financial institution-implemented budget system that determines and/or recommends a financial institution customer's targeted budget allocation based on current budget allocation, responses to a budget profile questionnaire and/or peer budget allocation data. The budget profile questionnaire is instrumental in understating the spending needs of the customer. Peer budget allocation data takes into account the customer's profile data, such as demographics and the like and allows for the customer to select target budget allocation from amongst national averages or peers in the same residential area.Type: ApplicationFiled: March 30, 2009Publication date: September 30, 2010Applicant: BANK OF AMERICA CORPORATIONInventors: Kazi M. Ariff, Carol A. Smith, Shane A. Johnson, Russell W. Tipper, Yicong Li, Sean M. O'Connor, Thomas D. Kelley, Susan S. Thomas, William F. Borowski, William J. Aheron, Judith M. Anderson, Steven K. Hayes, Neal G. Wolfson, Jeffrey P. Judd, James P. Kirkman, Jeffrey H. Bierer
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Publication number: 20100241546Abstract: Apparatus and methods for providing a personal financial network service are provided. The method may use an electronic information processing platform. The method may include storing information relating to a first participant account. The method may also include storing information relating to a second participant account. The systems and methods of the invention may further include storing information relating to a group of accounts containing the first participant and the second participant account, wherein first said account and second said account are stored independently of one another.Type: ApplicationFiled: March 20, 2009Publication date: September 23, 2010Applicant: Bank of AmericaInventors: Susan S. Thomas, William F. Borowski, Kazi M. Ariff, Carol A. Smith, Judith M. Anderson, Steven K. Hayes, Thomas D. Kelley, Neal G. Wolfson, Sean M. O'Connor, Russell W. Tipper, Jeffrey P. Judd, William J. Aheron, Yicong Li, Shane A. Johnson, James P. Kirkman, Jeffrey H. Bierer
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Publication number: 20100241545Abstract: Apparatus and methods for configuring a master financial account providing comprehensive access to financial services are provided. A master account may be configured for a customer of a financial institution. The master account holder may build a customized array of financial services which may be accessed and managed through the master account. Benefits associated with use of a sub-account may accrue collectively in the master account.Type: ApplicationFiled: March 20, 2009Publication date: September 23, 2010Applicant: Bank of AmericaInventors: Sean M. O'Connor, William F. Borowski, Kazi M. Ariff, Carol A. Smith, Judith M. Anderson, Steven K. Hayes, Thomas D. Kelley, Neal G. Wolfson, Susan S. Thomas, Russell W. Tipper, Jeffrey P. Judd, William J. Aheron, Yicong Li, Shane A. Johnson, James P. Kirkman, Jeffrey H. Bierer
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Publication number: 20100241584Abstract: Apparatus and methods for configuring a flexible pension account are provided. A flexible pension account may be offered as a product of a financial institution. Terms governing contribution of funds to the account, distribution of funds from the account, modifications to the account and management of the account may be chosen to create an account customized toward individual customer needs. The flexibility within the account design allows for unequal contributions from a variety of contributors as well as unequal distributions to a variety of beneficiaries. The flexible design may be combined, in certain embodiments, with tax-deferred growth and a minimum income guarantee. Account management and modification may be in the hands of an account administrator.Type: ApplicationFiled: March 20, 2009Publication date: September 23, 2010Applicant: Bank of AmericaInventors: James P. Kirkman, William F. Borowski, Kazi M. Ariff, Carol A. Smith, Judith M. Anderson, Steven K. Hayes, Thomas D. Kelley, Neal G. Wolfson, Susan S. Thomas, Russell W. Tipper, Jeffrey P. Judd, William J. Aheron, Yicong Li, Shane A. Johnson, Sean M. O'Connor, Jeffrey H. Bierer
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Publication number: 20100241561Abstract: A method for providing a lifestage insurance product for a customer includes receiving an insurance allocation for each of a plurality of lifestages. The plurality of lifestages includes a first lifestage and a second lifestage. Insurance coverage of a first lifestage is provided for the customer in accordance with the insurance allocation of the first lifestage. The insurance coverage from the insurance allocation for the first lifestage is shifted to the insurance allocation for the second lifestage upon determining a shift in lifestages has occurred.Type: ApplicationFiled: March 20, 2009Publication date: September 23, 2010Applicant: BANK OF AMERICA CORPORATIONInventors: William F. Borowski, William J. Aheron, Judith M. Anderson, Kazi M. Ariff, Jeffrey H. Bierer, Steven K. Hayes, Shane A. Johnson, Jeffrey P. Judd, Thomas D. Kelley, James P. Kirkman, Yicong Li, Sean M. O'Connor, Carol A. Smith, Susan S. Thomas, Russell W. Tipper, Neal G. Wolfson
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Publication number: 20100241559Abstract: Apparatus and methods for providing an online financial social network service to a user. The method may include storing in a computer information about a financial goal of a first user. The method may additionally include receiving instructions to present a display reflecting the stored financial goal information. The method may also include authenticating a second user to access the first user online financial social network account.Type: ApplicationFiled: March 20, 2009Publication date: September 23, 2010Applicant: Bank of AmericaInventors: Sean M. O'Connor, William F. Borowski, Kazi M. Ariff, Carol A. Smith, Judith M. Anderson, Steven K. Hayes, Thomas D. Kelley, Neal G. Wolfson, Susan S. Thomas, Russell W. Tipper, Jeffrey P. Judd, William J. Aheron, Yicong Li, Shane A. Johnson, James P. Kirkman, Jeffrey H. Bierer
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Publication number: 20090048972Abstract: A system and method for providing emergency conditional credit to a customer of a financial institution. The system includes a customer site and a financial institution. The financial institution determines actuarial data using past history of customers incurring specified events, the actuarial data useable to predict future specified events, determines a cost for offering an emergency reserve (ER) product using the actuarial data, determines a qualification standard for the ER product, and offers the ER product to a person at the customer site. An emergency reserve protection (ERP) feature that provides protection that cancels any ER balance on a monthly basis during a covered event may also be offered to customers. One or more vendor sites may be used to handle some of the processing or managing of the ER and ERP product offerings.Type: ApplicationFiled: August 15, 2007Publication date: February 19, 2009Inventors: Jeffrey H. Bierer, Andrew Kramer, Robert M. Mauldin, Thomas Myrick