gavel

Reid loses cloture vote on financial regulation

The plan was for the financial-regulation reform bill to have a vote for cloture — that is to say, a vote to end debate and move to a final vote — at 2 p.m. today. But a handful Senate Democrats angry that their amendments haven’t been considered derailed that. At 3:15 p.m., Democrats called an emergency caucus meeting. About 30 minutes after that meeting, Majority Leader Harry Reid called for a cloture vote.
 
He lost; 57-42.
 

And he lost because he lost Democrats. Republicans Olympia Snowe and Susan Collins actually voted for cloture. Their votes were canceled out by Democrats like Maria Cantwell and Russ Feingold, who aren’t ready to give up on their amendments.
 
Before getting to what that means, it’s worth saying why Reid wants to move to a final vote. The answer is floor time. Next week, the Senate is scheduled to take up the next war supplemental, which will have funding both for Iraq and Afghanistan and also for various disaster-relief efforts, and it will take up a bill to extend economic supports for the jobless. If the Senate doesn’t finish financial regulation this week, it probably can’t do those bills next week because the GOP’s routine filibusters mean that each vote will require days of floor time. And the plan, as of now, is for the Senate to adjourn come Memorial Day. Of course, the Senate could just choose to work past memorial Day, which would solve the problem of floor time.
 
As for what happens now, debate on financial regulation will continue. More amendments will be considered, at least if Democrats and Republicans can come to an agreement on whether to consider them. And another cloture vote will have to be called. That might be bad for the Senate schedule, but it’s probably good for the bill. This is the rare process in which the amendments are making the legislation substantially better. If the Senate has to work over Memorial Day to accommodate that process, so be it.


 

Press Releases

DataX Unveils New Advanced Solutions for Mitigating Risk and Lead Fraud

Enhancing Company’s Robust Suite of Services for the Specialty Consumer Finance Industry

LAS VEGAS, NV – April 22, 2013 – Today, DataX [www.DataXLtd.com], the industry-leading real-time credit reporting agency and data verification provider, begins offering clients an advanced feature for assessing risk and preventing lead fraud. By adding FraudScan2.0 to its robust suite of services, DataX, a Selling Source LLC company, now increases a lender’s ability to make the most knowledgeable decisions possible when purchasing leads or making loans in the specialty finance market.

 

By analyzing disparities between IP addresses, time zones and geolocation, in conjunction with user behavior and fraudster behavior, FraudScan2.0 uses a two-part advanced technology system to isolate fraudulent activity before additional verification is required and unnecessary costs are accumulated – resulting in larger profits for lenders.

 

“Our partnership with Fraudlogix , and iovation Inc., further advances our capabilities to protect lenders and consumers from fraud,” said Jessica Tillman, Executive Vice President, Operations for DataX, Ltd.  “We are excited to offer this advanced fraud solution and partner with some of the most innovative players in the market.”

 

According to Fraudlogix’s Founder, Hagai Shechter, “Addressing a problem of this scope requires tools that can keep pace with the growing sophistication of fraudulent affiliate activity.”  He adds, “We’re able to detect hacker footprints with greater regularity – even as they continue to update their strategies”.

 

About Fraudlogix

With offices in the U.S. and Israel, Fraudlogix is a privately held company that uses proprietary algorithms, internal database cross-checks, and world-class data infrastructure to detect affiliate fraud attempts overlooked by traditional data verification and IP-based systems.  For more information, visit http://fraudlogix.com/

 

About DataX Ltd.
DataX, Ltd., a Selling Source, LLC company, specializes in developing industry-leading risk management services.  With the most advanced Credit Reporting bureau in the market, DataX offers its clients a uniquely sophisticated, cost effective approach to fraud prevention and risk management. For more information, visit www.DataXLtd.com.

 

About Selling Source, LLC
Selling Source, one of the largest privately-held digital marketing companies in the United States, provides customer acquisition and data services. The company operates proprietary, scalable technology platforms to cost effectively deliver a substantial volume of precisely targeted, real-time sales leads while maximizing return on investment for advertisers and publishers. Continually expanding its broad online reach via an array of diverse branded web properties, as well as through external partner relationships, the company attracted over 550 million visitors to its branded web properties in 2010. Selling Source has a strong, varied client base and specializes in two key verticals: Consumer Specialty Finance and Performance-based Marketing.

 

London Bay Capital, a private equity firm based in San Francisco, acquired a controlling interest in Selling Source in December 2007. For more information, please visit www.SellingSource.com.

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