Roberto Herencia, the former chief executive of Midwest Banc Holdings Inc., has been nominated to serve on the board of directors of the Overseas Private Investment Corp., the Obama administration announced Wednesday.

The OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas. On its Web site, OPIC says it charges market-based fees for its products and services and therefore operates at no net cost to taxpayers. Get the full story »