President Donald Trump said Friday he'll nominate a criticof the U.S. Export-Import Bank — one who has derided the bank as“corporate welfare” — to run the institution, which has beenoperating under strict lending limits because of a partisan battleover its mission.

Trump, who as a candidate said he didn't think the bank neededto exist, named former New Jersey Rep. Scott Garrett, one of thebiggest recipients of Wall Street donations among House members, tobe the bank's chairman and president. He tapped former Alabama Rep.Spencer Bachus for a seat on the bank's board of directors. Bothpositions require Senate confirmation.

Trump hinted at a shift in his position on Ex-Im during aninterview on April 12. “Actually, it's a very good thing. And itactually makes money; it can make a lot of money,” Trump told theWall Street Journal. “It turns out that, first of all, lots ofsmall companies are really helped, the vendor companies.”

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