Bloomberg News

Senate Advances Hochberg Nomination for Export-Import Bank

July 17, 2013

The Senate advanced the nomination of Fred Hochberg for a second term as president of the U.S. Export-Import Bank.

The 82-18 vote clears the way for debate and a final confirmation vote, probably later today. The action is a result of this week’s agreement between Senate Republicans and Democrats to consider confirmation of several of President Barack Obama’s executive appointments while avoiding a change in the chamber’s rules.

The Senate also plans this week to vote on the nominations of Thomas Perez for labor secretary and Gina McCarthy to lead the Environmental Protection Agency.

The Export-Import Bank provides assistance to purchases of U.S. products by foreign entities. Congress last year raised its lending limit to $140 billion through September 2014.

The Senate yesterday confirmed, on a 66-34 vote, Richard Cordray as director of the Consumer Financial Protection Bureau.

Cordray was nominated twice and waited more than 700 days for a confirmation vote. Obama installed him in the director post in January 2012 using a so-called recess appointment, which bypasses Senate confirmation.

In exchange for proceeding with Cordray’s confirmation, Obama agreed to nominate two new candidates to the National Labor Relations Board to replace two he had installed as recess appointments.

To contact the reporter on this story: Laurie Asseo in Washington at

To contact the editor responsible for this story: Laurie Asseo at

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