President Trump is considering pulling his nomination of former Rep. Scott Garrett Ernest (Scott) Scott GarrettBiz groups take victory lap on Ex-Im Bank Export-Import Bank back to full strength after Senate confirmations Manufacturers support Reed to helm Ex-Im Bank MORE (R-N.J.) for president of the Export-Import Bank, Politico reported Friday.

The news that Trump could withdraw Garrett comes amid intensifying lobbying efforts by U.S. companies opposed to the nomination because of the former congressman's opposition to the agency while he was in Congress.

Garrett lost his reelection bid last year. But he has not convinced businesses that his views on the Export-Import Bank, which extends credit to foreign buyers of U.S. exports, have changed, according to Politico.

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Garrett has also faced scrutiny for reportedly telling lawmakers in a private meeting last year that he would not pay dues to the National Republican Congressional Committee because the organization sought to recruit gay congressional candidates. He has denied that he made such a statement.

A White House spokeswoman said that Trump stands behind Garrett's nomination, asserting that the former representative is qualified to lead the Export-Import Bank.

But according to Politico, the administration is trying to find a way to withdraw Garrett from consideration without embarrassing the White House.

As a presidential candidate, Trump suggested that he would do away with the Export-Import Bank if elected.

But since taking office, he has changed his tone on the agency, telling The Wall Street Journal in an interview in April that "actually, it's a very good thing."

He nominated Garrett and former Rep. Spencer Bachus Spencer Thomas BachusManufacturing group leads coalition to urge Congress to reauthorize Ex-Im Bank Biz groups take victory lap on Ex-Im Bank On The Money: White House files notice of China tariff hikes | Dems cite NYT report in push for Trump tax returns | Trump hits Iran with new sanctions | Trump praises GM for selling shuttered Ohio factory | Ex-Im Bank back at full strength MORE (R-Ala.) to the bank's board last month.