In 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.