Craig Michael Compiano

US Patent:

7849009, Dec 7, 2010

Filed:

Jan 2, 2003

Appl. No.:

10/336671

Inventors:

Craig Compiano - Oakland CA, US
Michael W. Rogers - Berkeley CA, US
William R. Grant - Danville CA, US

Assignee:

The Western Union Company - Englewood CO

International Classification:

G06Q 40/00

US Classification:

705 40, 705 35

Abstract:

The present invention provides exemplary bill paying service methods and systems. One such bill paying service method () includes enrolling a subscriber (Step ) who is a debtor to a first creditor and who has authorized debits to be taken from a designated account. The designated account is adapted to periodically receive a payroll deposit on a first regular schedule that is over time in excess of a minimum payment on a first debt owed by the debtor to the first creditor. The designated account is periodically debited, and any funds obtained are used to credit a custody account (Step ). The first creditor is paid (Step ), on behalf of the debtor and from the custody account, on a second regular schedule that differs from the first regular schedule. Paying the first creditor occurs in an amount calculated for an accelerated repayment of the first debt (Step ). Such excess is used to accelerate the repayment of various loans and debts according to what particular application at that time will have the greatest long-term beneficial effect.

US Patent:

7440923, Oct 21, 2008

Filed:

May 24, 1999

Appl. No.:

09/317785

Inventors:

Craig M. Compiano - Oakland CA, US

Assignee:

The Western Union Company - Englewood CO

International Classification:

G06Q 40/00

US Classification:

705 44, 705 35

Abstract:

A method and apparatus for preauthorizing electronic fund transfers from a consumer's bank account without obtaining actual written authentication from the consumer is implemented in connection with a direct marketing strategy for a financial product which, in the presently preferred embodiment of the invention, is a mortgage acceleration program. The invention provides for the mailing of a solicitation to a consumer, i. e. a prospective customer, based upon such factors as mortgage data that the financial institution may posses concerning the consumer. The mailing includes an authorization and passcode which, in the presently preferred embodiment of the invention, is an ACH authorization and passcode. When the consumer receives the solicitation, he may decide to enroll in the mortgage acceleration program. The consumer places a telephone call to a telemarketing organization at a telephone number that accompanied the solicitation.