Banking Chairman Defies McConnell, Obama, Boeing on Ex-Im Bank
- Shelby's blockade has crippled bank's financing authority
- Bank limited to $10 million deals, limiting major exporters
Senator Richard Shelby speaks to reporters before going into the Senate Chamber to vote on Oct. 12, 2013, in Washington.
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Conservatives’ efforts to cripple the U.S. Export-Import Bank are now pitting two powerful Republicans against each other: Senate Banking Chairman Richard Shelby and Majority Leader Mitch McConnell.
Shelby on Thursday defied McConnell’s call to advance a nominee to the board of the Ex-Im Bank, a key financing tool for Boeing Co. and other major exporters.