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McHenry investigates Ex-Im Bank's fraud prevention efforts
By: Patrick Temple-West, POLITICO

Washington, Feb 7 -

Rep. Patrick McHenry (R-N.C.) today asked the Export-Import Bank for information about the agency's efforts to combat fraud.

In a letter to acting Ex-Im Bank President Jeffrey Gerrish, McHenry cited a July 2018 GAO report that made recommendations about how the agency could improve its fraud prevention efforts.

"In light of GAO's findings, the committee is concerned about the adequacy of the Bank's antifraud controls, including the Bank's suspension and debarment program," said McHenry, the ranking Republican on the House Financial Services Committee. He asked for documents pertaining to the Bank's antifraud controls and asked for a response by Feb. 21.

The Bank offers loan guarantees for foreign purchases of U.S. exports, and it must be reauthorized by Congress by Sept. 30, 2019.

A representative for the Bank did not immediately respond to a request for comment about McHenry's letter.

To view online:
https://subscriber.politicopro.com/financial-services/whiteboard/2019/02/mchenry-investigates-ex-im-banks-fraud-prevention-efforts-2658759