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System for managing financial accounts by a priority allocation of funds among accounts

  • US 5,911,135 A
  • Filed: 04/16/1991
  • Issued: 06/08/1999
  • Est. Priority Date: 04/15/1987
  • Status: Expired due to Fees
First Claim
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1. A computer system operating at least one client account at an institution providing financial services or financial processing comprising:

  • processing means;

    memory means connected to said processing means for storing information pertaining to the client accounts(s);

    means for maintaining on said computer system data for said client account(s), each of said client accounts comprising at least one asset account having means for receiving funds for investment purposes, said asset account further having means for updating an account balance upon receipt of said funds and at least one liability account including a loan, a condition of which is the periodic payment of a sum of money equal to or in excess of interest charged on the loan;

    means for establishing a priority for the allocation of funds to said investment asset account(s) and said liability account(s);

    means for using said computer system to allocate funds that are received to pay interest on the loan, and allocate any remaining portion of said payments to one or more of said investment asset account(s) and said liability account(s) other than the loan according to said priority; and

    updating the prioritized allocation in accordance with changes to financial and economic variables.

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