U.S. Senator Rubio questions Assistant Secretary of State Jacobson on U.S.-Cuba relations during hearing on Capitol Hill in Washington

Republican senators demand liquidation plan for U.S. Ex-Im Bank

U.S. Senator Rubio questions Assistant Secretary of State Jacobson on U.S.-Cuba relations during hearing on Capitol Hill in WashingtonBy David Lawder WASHINGTON (Reuters) – Seven conservative Republican senators demanded on Wednesday that the U.S. Export-Import Bank disclose plans to begin liquidating its assets after the government trade lender’s charter expired amid congressional inaction. Ex-Im can no longer seek or process new applications for loans, loan guarantees and trade insurance, but it has said it will stay open to continue servicing $112 billion in existing obligations. The suspension of Ex-Im’s new business operations on Wednesday marked a partial victory for conservatives campaigning to close the bank, which they say promotes “crony capitalism” and interferes in free markets by subsidizing large, politically connected companies.

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