House Clears $140B Lending Cap For Ex-Im Bank Through 2014

Law360, New York (May 9, 2012, 7:11 PM EDT) -- The U.S. House of Representatives on Wednesday overwhelmingly passed a bill authorizing a $140 billion lending cap for the U.S. Import-Export Bank through September 2014, despite some conservatives’ protests that the agency could be the next Fannie Mae or Freddie Mac.

The bill was approved in a 330-93 vote, with all the nay votes coming from Republicans. U.S. Senate Majority Leader Harry Reid, D-Nev., has previously pledged his support for the bill and said he hoped the Senate would see the bill through unchanged before the...
To view the full article, register now.