The Export-Import Bank, a legacy of the New Deal that helps thousands of small businesses and some very large ones compete in foreign markets, teeters on the brink of extinction because it has become a symbol of big government largesse and corporate cronyism. For the bank's allies, it is a distressing sign of the extreme partisanship of 2012 that the 78-year-old federal credit agency, which makes taxpayer-guaranteed loans to would-be exporters, could be de-authorized by Congress in May, leaving its clients, including The Boeing Company, scrambling for financing that bank supporters say they would not be able to get on the private market.
The Export-Import Bank of the United States (hereafter known as ``Ex-Im Bank''), Office of Inspector General (hereafter known as ``OIG'' or ``Ex-Im Bank OIG'') is giving concurrent notice of a new system of records entitled, ``EIB-35-Office of Inspector General Investigative Records.'' In this proposed rulemaking, Ex-Im Bank proposes to exempt portions of this system of records from one or more provisions of the Privacy Act because of criminal, civil, and administrative enforcement requirements.
The Export-Import Bank of the United States (hereafter known as ``Ex-Im Bank'') is issuing a final rule to exempt portions of a system of records entitled ``EIB-35--Office of Inspector General Investigative Records'' from one or more provisions of the Privacy Act because of criminal, civil, and administrative enforcement requirements.
Small Businesses across the Country Benefit from Streamlined Application for Short-Term Export Credit Insurance WASHINGTON, March 12, 2012 /PRNewswire-USNewswire/ -- When Martin Weinberg, President of Xamax Industries of Seymour, Connecticut, was encouraged by his accounting firm to look to the Export-Import Bank of the United States (Ex-Im Bank) for export financing, he was skeptical - "We wanted to go a month or two to see if Ex-Im Bank was for real," stated Weinberg. "Now I know that Ex-Im Bank products are a no-brainer. What Ex-Im Bank charges for insurance and what the policy actually meant for my company, it wasn't a hard sell for me.
Ordinarily, a question of whether to reauthorize the U.S. Export- Import Bank of the United States (Ex-Im Bank) and increase its loan limit would be about as uncontroversial a proposition as one could find on Capitol Hill. Ex-Im Bank provides an important counterpart to the government-guaranteed loans our international competitors use to encourage their industries' exports. And it makes money for the Treasury. This year, though, some of my friends among the fiscal- conservative and strict constitutionalist communities are urging that the bank's authorization be allowed to expire or, at least, that Ex-Im Bank not be allowed to increase the amount of loans it can make with government guarantees. They argue that we should not be extending credit at a time when we are broke, we should not b...
WASHINGTON - The government's vehicle for promoting U.S. export sales survived a challenge from conservatives Tuesday with a Senate vote to renew the charter of the Export-Import Bank for three years. The vote, coming after the Senate rejected amendments to weaken or kill the bank, sends the measure to President Barack Obama for his signature. The bill, which passed the House last week, also raises the independent federal agency's lending cap from the current $100 billion to $140 billion. The vote was 78-20.
Partners include the Commerce Department, U.S. Trade Representative, Small Business Administration, U.S. Chamber of Commerce, National Association of Manufacturers, PNC, Wells Fargo, Bank of America Merrill Lynch, and HSBC Bank USA, N.A. WASHINGTON, Jan. 13, 2011 /PRNewswire-USNewswire/ -- Today, the Export-Import Bank of the United States (Ex-Im Bank) announced its Global Access for Small Business (Global Access) initiative, which will help more than 5,000 small companies export goods and services produced by U.S. workers. As an integral part of President Obama's National Export Initiative (NEI) mission to double U.S. exports by 2015, Global Access is being supported by a wide variety of business, financial and government partners.
A major struggle related to the Export-Import Bank of the United States is starting in Congress and in the media. EX-IM Bank's major role is to provide credit guarantees to U.S. manufacturers so they can sell in the export market. In essence, EX-IM reviews the credit worthiness of potential customers, gets credit guarantees from banks in the customer's country, and, if possible, issues credit guarantees to U.S. banks that then loan money to U.S. companies to fund the manufacturing and exporting. In the last four years, EX-IM has helped more than 6,000 companies in all 50 states.
WASHINGTON, Nov. 21, 2011 /PRNewswire-USNewswire/ -- The Office of Inspector General (OIG) for the Export-Import Bank of the United States (Ex-Im Bank) announced today that pursuant to an ongoing joint investigation, several federal indictments were unsealed in El Paso, TX. As a result of the unsealing, investigators are currently attempting to locate and arrest 11 fugitives charged as a result of the joint investigation related to export financing fraud. Ex-Im Bank, the official U.S. export credit agency, assists in financing the export of U.S. goods and services to international markets to help U.S. companies maintain and create U.S. jobs. In particular, Ex-Im Bank issues loan insurance and guarantees to financial institutions that provide credit to foreign companies so they can purch...
The Advisory Committee was established November 30, 1983, to advise the Export-Import Bank on its programs and to provide comments for inclusion in the reports of the Export-Import Bank of the United States to Congress.
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