Print this article Fred Hochberg, chairman and president of the Export-Import Bank of the United States, testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill in Washington on January 28, 2014.
(Joshua Roberts/Reuters)
It is rare that we taxpayers get to see how crony deals are made in Washington. But what follows is an example provided to us by the Export-Import Bank.
Bear with me while I give you some background. In January, ExIm announced a deal extending a 90 percent guarantee of a $50 million supply-chain-finance facility from Greensill Capital to Freeport LNG Marketing, LLC, a Texas-based company. The loan was extended through supply- chain-finance (SCF) provider Greensill.
As discussed in our
earlier blog, the Senate Banking, Housing and Urban Affairs Committee held a hearing on April 28, 2021 entitled “The Reemergence of Rent-a-Bank?”.
The hearing focused primarily on the
final “True Lender” rule issued by the OCC on October 27, 2020, which was effective December 29, 2020. The True Lender rule clarifies when, under existing law, a national bank is the “true lender” that makes a loan in the context of an arrangement between the bank and a non-bank entity that facilitates or services the loan. Since the non-bank entity frequently is a fintech, these arrangements often are referred to as bank-fintech partnerships or marketplace lending arrangements. Democrats have launched an
Austin voters appear poised to reinstate city s ban on public homeless encampments
May 1, 2021
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A woman sorts through her possessions before state workers clear out a homeless camp in Austin under a directive from Gov. Greg Abbott. But is that a lasting solution?Bob Owen / Staff photographer
Austin voters appear poised to reinstate a ban on public homeless encampments, according to unofficial early voting results. Proposition B on that city’s ballot would also criminalize panhandling at certain places and during certain times.
Austin’s City Council decided to lift the ban on public encampments in certain areas in 2019, arguing that the policy had led to citations for people experiencing homelessness that hurt their ability to find housing. The move was quickly criticized by Gov. Greg Abbott, who promised to take action against Austin.