Hochberg and McCarthy testify before a House Financial Services Committee hearing on the Export-Import Bank's reauthorization, on Capitol Hill in Washington

U.S. House vote moves trade bank a step closer to revival

Hochberg and McCarthy testify before a House Financial Services Committee hearing on the Export-Import Bank's reauthorization, on Capitol Hill in WashingtonBy David Lawder WASHINGTON (Reuters) – The dormant U.S. Export-Import bank moved a step closer to revival on Monday as Republicans and Democrats approved a rarely successful maneuver to force a vote to renew the trade lender’s charter. The move effectively bypasses House Financial Services Committee Chairman Jeb Hensarling, who has fought to close EXIM and has blocked legislation to revive it. EXIM, which helps finance U.S.-produced goods and services bought by foreign customers, has been unable to lend or provide loan guarantees and trade insurance for nearly four months, causing some companies to lose export deals and move jobs overseas.

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