Senate Confirms Hochberg As Ex-Im Bank President

Law360, New York (July 17, 2013, 8:15 PM EDT) -- The U.S. Senate on Wednesday confirmed the reappointment of Fred Hochberg as president of the U.S. Export-Import Bank, averting a potential bank shutdown before the July 20 expiration of his first term.

The Senate voted 82-17 to confirm Hochberg’s appointment to the bank, which boosts domestic exports by providing financing and insurance to foreign purchasers of U.S. goods. The bank would have not have had the necessary quorum to approve new transactions without the confirmation, and Hochberg’s reappointment essentially allows the bank to continue functioning....
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