Senate removes hurdle to OK'ing export bank chief

AP News
Posted: Jul 17, 2013 10:31 AM

WASHINGTON (AP) — The Senate has voted overwhelmingly to free another of President Barack Obama's stalled nominees for a confirmation vote, this time the head of the Export-Import Bank.

Senators cleared the way for approval of Fred Hochberg to a second four-year term heading the agency by a 82-18 roll call on Wednesday. The bank provides financing for U.S. exporters.

The vote cleared the way for Hochberg's confirmation later Wednesday.

On Tuesday, the Senate approved the first of the seven blocked nominees by confirming Richard Cordray to head the Consumer Financial Protection Bureau.

Movement on the nominations follows a deal between the chamber's leaders.

GOP senators agreed to end delaying tactics against the nominees. In exchange, Democrats abandoned a threat to alter rules by making it harder for opponents to block agency nominees.