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By Brian Flood
President Trump intends to name three more members to the Export-Import Bank’s (Ex-Im) board of directors, according to a statement from the White House press office Sept. 15.
The picks would give the export credit agency enough members to approve large deals, but Trump’s first two picks for the board have been held up for months.
Trump tapped Kimberly Reed to serve as first vice president of the bank. Reed was president of the International Food Information Council Foundation, served as senior adviser to two Treasury Department secretaries, worked as counsel for three House of Representative committees, and was vice president for financial markets policy relations at Lehman Brothers.
Trump also tapped Claudia Slacik and Judith Delzoppo Pryor to join the board. Slacik previously served as chief banking officer and senior vice president for export finance at Ex-Im, and was nominated for a seat on the board by the outgoing Obama administration in January. The Trump administration, however, withdrew that nomination in February. Pryor served as vice president of the Overseas Private Investment Corp.
The president named two nominees for the board back in April, but they have not yet been confirmed by the Senate. His pick to lead the board, former Rep. Scott Garrett (R-Idaho), has come under fire from lawmakers and business groups for his past criticisms of the bank and his vote against its reauthorization.
Because the bank’s five-member board of directors lacks a three-member quorum, it can’t approve deals worth more than $10 million.
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The White House's announcement is available at http://src.bna.com/sBi.
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