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The U.S. Export-Import (Ex-Im) Bank once again has the ability to back deals of more than $10 million—for the first time since 2015—after the Senate on Wednesday confirmed President Donald Trump’s three nominees.

Senators confirmed Kimberly Reed for president of the bank, and former Representative Spencer Bachus and Judith DelZoppo Pryor to be members of the board of directors, providing the quorum needed to approve large deals. The nominees were confirmed despite objections from conservative Republicans who say the Ex-Im Bank provides corporate welfare for wealthy manufacturing and aerospace companies such as Boeing Co. and General Electric Co. and for big banks, like JPMorgan Chase & Co., that help finance deals.


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