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 Chairman Jeb Hensarling and Representative Patrick McHenry, who
chairs an oversight subcommittee, also expressed sharply worded
disapproval that the bank had heavily redacted meeting transcripts
sought by lawmakers.
"The bank's inadequate and unacceptable response deprives the
committee of information necessary to critically examine the bank's
day-to-day operations and assess proposed legislation submitted by
the bank in connection with its request for reauthorization,"
Hensarling and McHenry wrote in a letter made public Tuesday.
Another panel, the House Oversight Committee, had also requested
documents on allegations that bank officials were suspended or
removed as investigators looked into charges of improper gifts or
kickbacks. Lawmakers on the Financial Services panel said they
needed the information to evaluate the bank's request for
reauthorization.
Bank President Fred Hochberg, an appointee of President Barack
Obama, declined to make the three staff members available to the
Financial Services committee, saying it is not common practice to do
so and that lawmakers did not say what they wanted to discuss.
 Hensarling and McHenry said that the bank's refusal to comply was
surprising in light of the bank's reauthorization proposal and its
hopes to expand its lending authority.
"The committee will not countenance the bank's failure to cooperate
in a full and transparent manner with legitimate congressional
oversight," they said.
The lawmakers said they would work with the Oversight panel, which
is chaired by Darrell Issa, to compel the bank to make the
individuals available, including through subpoenas if necessary. A
spokesperson for Issa's committee said such measures were possible.
"All options are on the table to obtain information from the Ex-Im
bank about their recent corruption scandals," Oversight Committee
communications director Becca Glover Watkins said.
[to top of second column] |
Ex-Im Bank provides loans, loan guarantees and credit insurance to
help private companies export goods overseas. Its biggest
beneficiaries are companies such as Boeing and Caterpillar, but
smaller exporters also receive financing.
The bank's charter is set to expire at the end of September. Many
conservatives in Congress would like to end the bank, which they
view as an unnecessary federal agency that benefits big firms while
putting taxpayers at risk should borrowers default. Opponents say
its services should be provided by the private sector.
The issue has pitted moderate Republicans and business groups such
as the Chamber of Commerce against more conservative lawmakers who
see eliminating the bank as an important statement of principle. The
standoff poses another challenge for the Republican leadership of
House Speaker John Boehner, who has been reluctant to cross the most
conservative members of his caucus.
Ex-Im Bank supporters, who include most Democrats and Obama, argue
that the bank's financial backing is critical for U.S. businesses
and that letting its charter expire would cost American jobs.
(Reporting By Mark Felsenthal and Susan Cornwell; Editing by Ken
Wills)
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