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President Obama tries to rally support for U.S. Export-Import Bank's renewal

  // Saturday, 23 August 2014 13:17 //

EDGARTOWN, Mass. -- President Barack Obama is trying to rally support for a taxpayer-subsidized bank that he says creates jobs.

In his weekly radio and Internet

address, Obama urges business owners to lobby Congress to renew the U.S. Export-ImportBank.

The bank provides loans, loan guarantees and credit insurance to foreign buyers of U.S. products. But it will cease functioning unless Congress renews its charter before October. Some Republican lawmakers who supported the bank in past years

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