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Export-Import Bank ends operations as Congress failed to reauthorize

Andrew V. Pestano, UPI

The Export-Import Bank of the United States will end operations tonight as Congress failed to reauthorize its charter before the July 4 recess. The bank will not be able to arrange new loans for the first time since it was implemented 81 years ago. Democrats and a few Republicans are attempting to renew the bank's charter, which could see the bank's rebirth by late July.