Lawmakers threaten Ex-Im Bank subpoena in oversight rebuff
Top members of the House of Representatives Financial Services panel are threatening to subpoena the U.S. Export-Bank over the bank’s refusal to make three employees available for questioning as Congress considers whether to renew the bank’s charter.
Chairman Jeb Hensarling and Representative Patrick McHenry, who chairs an oversight subcommittee, also expressed sharply worded disapproval that the bank had heavily redacted meeting transcripts sought by lawmakers.
“The bank’s inadequate and unacceptable response deprives the committee of information necessary to critically examine the bank’s day-to-day operations and assess proposed legislation submitted by the bank in connection with its request for reauthorization,” Hensarling and McHenry wrote in a letter made public Tuesday.
Bank President Fred Hochberg, an appointee of President Barack Obama, declined to make the three staff members available to the Financial Services committee.
“All options are on the table to obtain information from the Ex-Im bank about their recent corruption scandals,” Oversight Committee communications director Becca Glover Watkins said.
Ex-Im Bank provides loans, loan guarantees and credit insurance to help private companies export goods overseas.
The bank’s charter is set to expire at the end of September.
Source: Reuters
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