GAO Flags EXIM Bank Gap in Delinquent Federal Debt Screening for Loan Guarantees

GAO found that EXIM Bank does not require delinquent federal nontax debt checks for loan guarantees approved under individual delegated authority, leaving a credit risk screening gap. EXIM's third-party vendor database, used since April 2023, identifies federal tax debt delinquencies but not nontax debt such as defaulted student loans, contrary to statutory eligibility requirements.