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Boston Globe faces backlash over diversity fellowships lawsuit

The Boston Globe, one of the most prominent newspapers in the US, is facing criticism and boycott calls from some readers and activists after it was sued by a conservative group over its diversity fellowships program. What is the lawsuit about? The lawsuit, filed by Judicial Watch on behalf of a white male applicant, alleges that the Boston Globe discriminated against him on the basis of race, sex, and national…

Blitzboks face mixed fortunes ahead of Olympic qualifiers

The Springbok Sevens squad will have to deal with both joy and sorrow as they prepare for the Rugby Africa Sevens Olympic Qualifier in Zimbabwe next month. Specman returns to boost Blitzboks One of the good news for the Blitzboks is the return of Rosko Specman, the energetic playmaker and one-cap Springbok speedster, who has opted to re-start his sevens career on a short-term deal with the team. Specman, who…

WADA Panel Defends Marijuana Ban for Athletes Despite Criticism

The World Anti-Doping Agency (WADA) has faced backlash for its decision to keep marijuana on the list of prohibited substances for athletes, especially after the suspension of U.S. sprinter Sha’Carri Richardson from the Tokyo Olympics. However, some members of WADA’s Prohibited List Expert Advisory Group have defended the ban, arguing that marijuana use violates the “spirit of sport” and poses health and safety risks. Marijuana and the “spirit of sport”…

Aussie banks ramp up efforts to combat fraud amid growing concerns

New platform to freeze scam payments in real time The Australian Banking Association (ABA) has announced the launch of a new platform that will help banks act quickly to freeze money being sent to scammers by allowing the reporting of bank-to-bank scam payments in close to real time. The platform, called the Fraud Reporting Exchange (FRX), will facilitate the quick reporting of fraudulent payments as they are transferred to another…

S&P Global slashes credit ratings of multiple US banks over funding risks

S&P Global, one of the world’s leading credit rating agencies, has recently downgraded the credit ratings and revised the outlooks for several US banks. These include Associated Banc-Corp, Valley National Bancorp, UMB Financial Corporation, Comerica Bank, KeyCorp, S&T Bank, and River City Bank. This action follows a similar move by Moody’s, which cited weaker profitability and funding risks as factors that will likely test the credit strength of the banking…

Myanmar’s military accuses some banks of disloyalty amid banking crisis

The State Administration Council (SAC), the military junta that seized power in Myanmar in February 2021, has blamed some banks for being unfaithful to the state, despite receiving assistance from the government during the attacks on the banking system. The SAC spokesperson, Major General Zaw Min Tun, made this statement at a press conference on August 22, 2023. Attacks on the banking system According to Zaw Min Tun, the first…

FIGFCU Launches Tulee, a Next-Gen Digital Banking Platform Powered by Constellation

Farmers Insurance Federal Credit Union (FIGFCU), a $1.5 billion asset-sized credit union serving over 60,000 members nationwide, has announced the launch of its new digital banking platform, Tulee, powered by Constellation Digital Partners (Constellation), a leading cloud-native digital banking services provider. Tulee, which went live earlier this summer, offers FIGFCU members a more enhanced, personalized, and seamless digital banking experience across devices. Tulee: A Customizable and Holistic Digital Banking Experience…

Montana Residents Prefer Traditional Banking Over Online Options

According to a recent survey by Bankrate, Montana is one of the states with the highest percentage of residents who still use brick-and-mortar banks, above the national average of 76.8%. The survey found that 81.8% of Montana residents have visited a bank branch in the past year, compared to only 18.2% who have not. The survey also revealed some of the reasons why Montanans prefer traditional banking over online options.…

True Digital and Ncontracts Join Forces to Optimize Vendor Data for Financial Institutions

A strategic partnership to enhance vendor management and optimization True Digital Group, a provider of the industry’s first digital vendor optimization network that supports financial institutions in their discovery, implementation, and monitoring of technology vendors, today announced a strategic partnership with Ncontracts, the leading provider of integrated vendor, compliance, and risk management solutions to the financial industry. The partnership will provide banks and credit unions with a more robust and…

US Banks Face Credit Rating Downgrades Amidst Challenging Climate

The US banking sector is facing a turbulent period as credit rating agencies deliver successive downgrades to several banks. S&P Global and Moody’s have recently lowered credit ratings for regional banks, causing ripples across the financial landscape. These actions come against the backdrop of a challenging lending environment, where factors like weaker funding, deposit outflows, and rising interest rates have raised concerns. S&P Global Downgrades Five Regional Banks S&P Global…