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Shift in GOP leadership leaves Export-Import Bank at risk of closing
Shift in GOP leadership leaves Export-Import Bank at risk of closing

For 80 years, an obscure federal agency has helped Boeing Co., General Electric Co. and thousands of other U.S. firms sell products abroad. But a sudden change in the House Republican leadership has put the Export-Import Bank at risk of going out of business. At a hearing Wednesday, members of the House Financial Services Committee will wrangle with the bank's president, Fred Hochberg, and his supporters as well as with opponents over whether the bank is a "corporate necessity or corporate welfare" — as a Sept. 30 deadline approaches to extend its charter. Critics of the bank, led by top conservatives, say its $27 billion in annual loans and other export assistance...

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