House Oversight and Government Reform Committee Chairman Darrell Issa (R-Calif.) today released the following statement on the revelation that the U.S. Export-Import Bank has been erroneously characterizing large companies as “small businesses” in its record keeping:
“The Export-Import Bank’s classification of small business loans was directly questioned during the Oversight Committee’s July hearing. More importantly, gross inaccuracies in the Bank’s self-reported data make vigorous congressional oversight all the more necessary. It is time for the Bank to stop stonewalling Congress. I expect full compliance with the Committee’s subpoena.”
On July 29th, the Oversight Subcommittee on Economic Growth, Job Creation and Regulatory Affairs, chaired by Rep. Jim Jordan (R-Ohio), held a hearing on the allegations of corruptions at the Export-Import Bank. On November 7th, the Committee subpoenaed critical documents that the Bank had withheld from Congress for months. Primarily, the subpoena requires the Bank to provide unredacted transcripts from meetings of theBank’s Board of Directors and Audit Committee starting in January 1, 2012.