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Senate Panel Approves the Nomination of Fred Hochberg as Export-Import Bank Head

Hochberg250In a 20-2 vote, the Senate Banking Committee approved the nomination of Fred Hochberg as the president of the U.S. Export-Import Bank for a second term, Reuters reported Thursday.

Doug Palmer writes Hochberg was nominated by President Obama in March to lead the export credit agency again.

“Today’s bipartisan vote is a testament to Fred’s dedication and record of success and I hope the Senate will move quickly to confirm him for another term,” panel Chairman Tim Johnson said in a statement.

The bank provides loans, loan guarantees and other types of financing to help U.S. companies export their goods.

Reuters reports the Senate Finance Committee held a confirmation hearing Thursday on White House international economic affairs adviser Mike Froman’s nomination as U.S. trade representative.

A Senate commerce panel is scheduled to vote on Monday whether to approve Penny Pritzker and Anthony Fox as commerce secretary and transportation secretary, respectively.

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