John R. Price has been named president and chief executive officer of the Federal Home Loan Bank of Pittsburgh effective Jan. 2.Mr. Price, 66, will succeed James D. Roy, who will retire at the end of the year. Since 2001, Mr. Price has been senior adviser to the Institute of International Finance, a Washington, D.C.-based global organization with approximately 340 banks and central banks as members, according to the FHLBank. He is also president and chief executive officer of the International Financial Development Corp. Mr. Price previously spent 29 years at what is now J.P. Morgan Chase & Co., beginning in 1972 with Manufacturers Hanover. He spent his last years with the company running government relations worldwide at Chase Manhattan. The Pittsburgh FHLBank can be found online at http://www.fhlb-pgh.com.
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Federal Reserve Gov. Christopher Waller said certain corporate functions at the 12 regional banks, including information technology and human resources, could be consolidated under one structure to increase standardization and reduce costs.
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More than 21% of reverse mortgage clients entered counseling with a deficit in their monthly budget last year, almost double the 12.2% of clients in 2024.
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