US Export-Import Bank Expires as Political Fight Continues

June 30, 2015 8:13 PM

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A controversial government agency that helps U.S. companies export goods will officially go out of business at 0400 UTC Wednesday (midnight Tuesday EDT), but supporters think they can rescue the U.S. Export-Import Bank in a week or so.

Without a charter from Congress, the Ex-Im Bank cannot make new loans or sell the insurance that protects American companies if a foreign customer does not pay for an order. The bank will continue to service existing contracts.

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