CLARKSBURG, W.Va.–(BUSINESS WIRE)–U.S. Sen. Jim Justice joined the Federal Home Loan Bank of Pittsburgh (FHLBank), during a ceremony today at the Clarksburg-HarrisonCLARKSBURG, W.Va.–(BUSINESS WIRE)–U.S. Sen. Jim Justice joined the Federal Home Loan Bank of Pittsburgh (FHLBank), during a ceremony today at the Clarksburg-Harrison

U.S. Senator Jim Justice Joins $23.9 Million Grant Announcement Ceremony for Affordable Housing in West Virginia

2026/01/22 02:32
3 min read

CLARKSBURG, W.Va.–(BUSINESS WIRE)–U.S. Sen. Jim Justice joined the Federal Home Loan Bank of Pittsburgh (FHLBank), during a ceremony today at the Clarksburg-Harrison Regional Housing Authority, announcing $23.9 million in 2025 Affordable Housing Program (AHP) and voluntary housing grant initiative awards in West Virginia. These grants, made in partnership with seven FHLBank member institutions, will support more than 250 affordable homes. The funding will assist with home repairs for seniors, new home construction, adaptive reuse of historic buildings, and construction of tiny homes for youth aging out of foster care. Local organizations also leveraged more than $32 million from Historic Preservation Tax Credits, HOME funds, Low-Income Housing Tax Credits, the State of West Virginia, and other sources to support these 18 projects.

FHLBank is a cooperative whose members can access reliable liquidity and community products to support community partnerships that foster job growth, economic vitality and long-term stability in West Virginia and communities across the country. AHP was created by Congress as part of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and operations began in 1990. On an annual basis, each Federal Home Loan Bank must set aside at least 10% of its prior year’s net income to fund AHP. AHP is funded entirely through FHLBank earnings, and grants are available only through FHLBank members. The voluntary housing grant initiative is an additional voluntary pool of funding which is separate and distinct from FHLBank’s required, statutory AHP, and is provided to address the critical housing needs within FHLBank’s district.

“Affordable and abundant housing is the foundation to the American Dream, and we are witnessing that today here in Clarksburg,” said U.S. Senator Jim Justice. “These grants represent what can happen when government and the private sector pull the rope together to make life better for West Virginia. I’m proud of this effort and everybody involved ought to be really excited for the goodness to come from investments like this.”

“It is encouraging to be here with so many people who are dedicated to providing safe, affordable housing in West Virginia,” said David G. Paulson, president and CEO, FHLBank Pittsburgh. “Every year, we work with our member financial institutions to provide funding that will help increase housing supply across the state. Thank you to Senator Justice for joining us and the entire West Virginia Congressional Delegation for the partnership that allows Federal Home Loan Banks to provide this support.”

Joining Sen. Justice and FHLBank President and CEO David G. Paulson were representatives from public, private and community partners. Several directors from FHLBank’s Board attended, including Nathaniel Bonnell, chairman, president and CEO, Citizens Bank of West Virginia; as well as FHLBank’s Affordable Housing Advisory Council member, Christal Crouso, executive director, The Fairmont-Morgantown Housing Authority.

A complete list of the AHP and voluntary housing grant initiative awards can be found at www.fhlb-pgh.com/ahp.

About FHLBank Pittsburgh

FHLBank Pittsburgh provides reliable funding and liquidity to its member financial institutions, which include commercial and savings banks, community development financial institutions, credit unions and insurance companies in Delaware, Pennsylvania and West Virginia. FHLBank products and resources help support community lending, housing and economic development. As one of 11 Federal Home Loan Banks established by Congress, FHLBank has been an integral and reliable part of the financial system since 1932. Learn more by visiting www.fhlb-pgh.com.

Contacts

Allison Karakis, FHLBank Pittsburgh, 412-660-8176, allison.karakis@fhlb-pgh.com

Market Opportunity
Union Logo
Union Price(U)
$0.001552
$0.001552$0.001552
+4.72%
USD
Union (U) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Crucial Fed Rate Cut: October Probability Surges to 94%

Crucial Fed Rate Cut: October Probability Surges to 94%

BitcoinWorld Crucial Fed Rate Cut: October Probability Surges to 94% The financial world is buzzing with a significant development: the probability of a Fed rate cut in October has just seen a dramatic increase. This isn’t just a minor shift; it’s a monumental change that could ripple through global markets, including the dynamic cryptocurrency space. For anyone tracking economic indicators and their impact on investments, this update from the U.S. interest rate futures market is absolutely crucial. What Just Happened? Unpacking the FOMC Statement’s Impact Following the latest Federal Open Market Committee (FOMC) statement, market sentiment has decisively shifted. Before the announcement, the U.S. interest rate futures market had priced in a 71.6% chance of an October rate cut. However, after the statement, this figure surged to an astounding 94%. This jump indicates that traders and analysts are now overwhelmingly confident that the Federal Reserve will lower interest rates next month. Such a high probability suggests a strong consensus emerging from the Fed’s latest communications and economic outlook. A Fed rate cut typically means cheaper borrowing costs for businesses and consumers, which can stimulate economic activity. But what does this really signify for investors, especially those in the digital asset realm? Why is a Fed Rate Cut So Significant for Markets? When the Federal Reserve adjusts interest rates, it sends powerful signals across the entire financial ecosystem. A rate cut generally implies a more accommodative monetary policy, often enacted to boost economic growth or combat deflationary pressures. Impact on Traditional Markets: Stocks: Lower interest rates can make borrowing cheaper for companies, potentially boosting earnings and making stocks more attractive compared to bonds. Bonds: Existing bonds with higher yields might become more valuable, but new bonds will likely offer lower returns. Dollar Strength: A rate cut can weaken the U.S. dollar, making exports cheaper and potentially benefiting multinational corporations. Potential for Cryptocurrency Markets: The cryptocurrency market, while often seen as uncorrelated, can still react significantly to macro-economic shifts. A Fed rate cut could be interpreted as: Increased Risk Appetite: With traditional investments offering lower returns, investors might seek higher-yielding or more volatile assets like cryptocurrencies. Inflation Hedge Narrative: If rate cuts are perceived as a precursor to inflation, assets like Bitcoin, often dubbed “digital gold,” could gain traction as an inflation hedge. Liquidity Influx: A more accommodative monetary environment generally means more liquidity in the financial system, some of which could flow into digital assets. Looking Ahead: What Could This Mean for Your Portfolio? While the 94% probability for a Fed rate cut in October is compelling, it’s essential to consider the nuances. Market probabilities can shift, and the Fed’s ultimate decision will depend on incoming economic data. Actionable Insights: Stay Informed: Continue to monitor economic reports, inflation data, and future Fed statements. Diversify: A diversified portfolio can help mitigate risks associated with sudden market shifts. Assess Risk Tolerance: Understand how a potential rate cut might affect your specific investments and adjust your strategy accordingly. This increased likelihood of a Fed rate cut presents both opportunities and challenges. It underscores the interconnectedness of traditional finance and the emerging digital asset space. Investors should remain vigilant and prepared for potential volatility. The financial landscape is always evolving, and the significant surge in the probability of an October Fed rate cut is a clear signal of impending change. From stimulating economic growth to potentially fueling interest in digital assets, the implications are vast. Staying informed and strategically positioned will be key as we approach this crucial decision point. The market is now almost certain of a rate cut, and understanding its potential ripple effects is paramount for every investor. Frequently Asked Questions (FAQs) Q1: What is the Federal Open Market Committee (FOMC)? A1: The FOMC is the monetary policymaking body of the Federal Reserve System. It sets the federal funds rate, which influences other interest rates and economic conditions. Q2: How does a Fed rate cut impact the U.S. dollar? A2: A rate cut typically makes the U.S. dollar less attractive to foreign investors seeking higher returns, potentially leading to a weakening of the dollar against other currencies. Q3: Why might a Fed rate cut be good for cryptocurrency? A3: Lower interest rates can reduce the appeal of traditional investments, encouraging investors to seek higher returns in alternative assets like cryptocurrencies. It can also be seen as a sign of increased liquidity or potential inflation, benefiting assets like Bitcoin. Q4: Is a 94% probability a guarantee of a rate cut? A4: While a 94% probability is very high, it is not a guarantee. Market probabilities reflect current sentiment and data, but the Federal Reserve’s final decision will depend on all available economic information leading up to their meeting. Q5: What should investors do in response to this news? A5: Investors should stay informed about economic developments, review their portfolio diversification, and assess their risk tolerance. Consider how potential changes in interest rates might affect different asset classes and adjust strategies as needed. Did you find this analysis helpful? Share this article with your network to keep others informed about the potential impact of the upcoming Fed rate cut and its implications for the financial markets! To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action. This post Crucial Fed Rate Cut: October Probability Surges to 94% first appeared on BitcoinWorld.
Share
Coinstats2025/09/18 02:25
FCA, crackdown on crypto

FCA, crackdown on crypto

The post FCA, crackdown on crypto appeared on BitcoinEthereumNews.com. The regulation of cryptocurrencies in the United Kingdom enters a decisive phase. The Financial Conduct Authority (FCA) has initiated a consultation to set minimum standards on transparency, consumer protection, and digital custody, in order to strengthen market confidence and ensure safer operations for exchanges, wallets, and crypto service providers. The consultation was published on May 2, 2025, and opened a public discussion on operational responsibilities and safeguarding requirements for digital assets (CoinDesk). The goal is to make the rules clearer without hindering the sector’s evolution. According to the data collected by our regulatory monitoring team, in the first weeks following the publication, the feedback received from professionals and operators focused mainly on custody, incident reporting, and insurance requirements. Industry analysts note that many responses require technical clarifications on multi-sig, asset segregation, and recovery protocols, as well as proposals to scale obligations based on the size of the operator. FCA Consultation: What’s on the Table The consultation document clarifies how to apply rules inspired by traditional finance to the crypto perimeter, balancing innovation, market integrity, and user protection. In this context, the goal is to introduce minimum standards for all firms under the supervision of the FCA, an essential step for a more transparent and secure sector, with measurable benefits for users. The proposed pillars Obligations towards consumers: assessment on the extension of the Consumer Duty – a requirement that mandates companies to provide “good outcomes” – to crypto services, with outcomes for users that are traceable and verifiable. Operational resilience: introduction of continuity requirements, incident response plans, and periodic testing to ensure the operational stability of platforms even in adverse scenarios. Financial Crime Prevention: strengthening AML/CFT measures through more stringent transaction monitoring and structured counterpart checks. Custody and safeguarding: definition of operational methods for the segregation of client assets, secure…
Share
BitcoinEthereumNews2025/09/18 05:40
USD/INR edges lower as Indian Rupee gains on improving equity inflows

USD/INR edges lower as Indian Rupee gains on improving equity inflows

The post USD/INR edges lower as Indian Rupee gains on improving equity inflows appeared on BitcoinEthereumNews.com. USD/INR loses ground on Tuesday after two days
Share
BitcoinEthereumNews2026/02/10 12:37