House readies vote to renew charter of Ex-Im Bank

WASHINGTON (Reuters) - The House of Representatives on Wednesday voted to renew the U.S. Export-Import Bank's charter until September 2014 and gradually raise its lending cap to $140 billion, disappointing conservative groups who want the nearly 80-year-old bank to die. The bill now goes to the Senate, which is under pressure to approve the legislation before the Ex-Im Bank's temporary charter expires on May 31. President Barack Obama's administration had pushed for a four-year renewal, but supports the House bill. The 330-93 House vote is welcome news for U.S. ...

The House has voted to extend the life of the Export-Import Bank, a key source of financing for American companies, ranging from small businesses to giants such as Boeing, trying to sell goods overseas.

WASHINGTON (Reuters) - Taxpayer-backed financing would "grind to a halt" and many companies would find themselves at a competitive disadvantage if Congress does not renew the Export-Import Bank charter by the end of May, the bank's president said. In remarks prepared for delivery at the bank's annual meeting on Thursday, Fred Hochberg said an effort by some lawmakers to "gut" the organization would disarm businesses "just as foreign competition is heating up." Hochberg said export credit agencies around the world are "working to expand their footprint" and increase their financing. ...

Taxpayer-backed financing would "grind to a halt" and many companies would find themselves at a competitive disadvantage if Congress does not renew the Export-Import Bank charter by the end of ...

WASHINGTON (Reuters) - Taxpayer-backed financing would "grind to a halt" and many companies would find themselves at a competitive disadvantage if Congress does not renew the Export-Import Bank charter by the end of May, the bank's president said.

Concerns raised by Delta Air Lines about the fairness of U.S. Export-Import Bank loans to help Boeing export aircraft are complicating President Barack Obama's push to quickly renew the bank's charter. ...