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U.S. export lender hands over documents to Congress

Published 11/21/2014, 05:45 PM
Updated 11/21/2014, 05:45 PM
U.S. export lender hands over documents to Congress

WASHINGTON (Reuters) - The U.S. Export-Import Bank handed over transcripts of board meetings to Congress this week after Republicans rekindled a battle over the bank's long-term future.

Senior Republicans issued a subpoena this month to force the export lender, which conservative lawmakers would like to close down, to provide complete transcripts of meetings of its board of directors and audit committee.

Darrell Issa, chairman of the U.S. House of Representatives Oversight and Government Reform Committee, said the edited transcripts previously provided by the bank made it difficult to assess Ex-Im's decisions and whether it should be allowed to remain open.

In a letter dated Nov. 19, a copy of which was made available to Reuters on Friday, Ex-Im Chairman Fred Hochberg said he was enclosing transcripts which included details of the board's deliberations, but not confidential client information.

"The production includes limited redactions of business confidential information in a way that does not impede an understanding of the issues and transactions discussed at the meetings," Hochberg wrote.

Republicans also asked for certain employees to attend transcribed interviews. Hochberg said the bank would make staff available for briefings with committee staff or to provide testimony at congressional hearings.

Critics say Ex-Im, which provides loans to foreign buyers of U.S. goods such as Boeing Co planes and support to U.S. exporters, unfairly picks winners and losers and objects to the U.S. government's role in lending.

The bank's charter was renewed in September for nine months through June 2015, when it must be renewed again or face closure. Issa's office had no immediate response to Hochberg's letter.

(Reporting by Krista Hughes; Editing by James Dalgleish)

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