Trump nominee withdraws after being criticized for ties to Russian companies: report

One of President Donald Trump's nominees to lead the U.S. Export-Import Bank withdrew from consideration on Wednesday after Democrats raised concerns about his ties to Russian businesses, according to a new report.

Politico reported that Bryce McFerran, whom Trump nominated to serve as the first vice president of the bank, previously worked at a Russian-owned steel company, and his wife has relatives who work in the Kremlin. Even though he withdrew, McFerran will still serve in an acting role as EXIM’s chief banking officer “until a permanent replacement is named in the coming weeks,” an administration spokesperson told the outlet.

The Washington Post was first to report McFerran's ties to Russia. According to the outlet, McFerran was an official at a subsidiary of the Russian steel firm Evraz, which is co-owned by a Russian oligarch. McFerrran's father-in-law also served in the Russian parliament and is an aide to one of President Vladimir Putin’s advisers.

McFerran was scheduled to appear before the Senate Banking Committee, which oversees EXIM, on Thursday.

Read the entire report by clicking here.