Ex-Im Prez Warns Possible Shutdown Would 'Disarm' US Cos.

Law360, New York (April 12, 2012, 8:01 PM EDT) -- The head of the U.S. Export-Import Bank on Thursday warned that domestic producers will quickly lose ground in a competitive global marketplace if his agency is not allowed to continue its lending operations to purchasers of U.S. goods and services.

Export-Import Bank President and Chairman Fred Hochberg urged Congress to pass a bill extending the credit agency's lending authority beyond the current May 31 expiration date so as not to “unilaterally disarm American companies just as foreign competition is heating up.”

“There are over 60 export...
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