Key U.S. Senator Doubts Ex-Im Bank Deserves Long-Term Renewal
Senator Richard Shelby, a Republican from Alabama, speaks to reporters in the U.S. Capitol Building basement before voting in Washington, D.C., U.S., on Tuesday, Dec. 9, 2014.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
The future of the U.S. Export-Import Bank was cast into further doubt Tuesday when the chairman of the Senate Banking Committee said he wasn’t convinced that the lending institution deserves long-term renewal.
Senator Richard Shelby, an Alabama Republican, opened the first of several congressional hearings this week on the Ex-Im bank by saying he had backed previous efforts to revamp its operations and wasn’t persuaded that enough had been done to reduce risk and hold management accountable for problems.