Americas

Both credit unions are based in Pittsfield, Massachusetts.

The National Credit Union Administration approved the creation of Maun Federal Credit Union, which will serve members of the state's Islamic community.

The pandemic spurred millions of merchants to add contactless payments within a year, pushing the number of global stores accepting contactless to 90%, according to new data from Mastercard.

The state's Department of Financial and Professional Regulation will reduce assessments by 61% this year because of overpayments in 2020, helping state-chartered credit unions deal with economic fallout from the pandemic.

Larissa Thurston, who will also become the Massachusetts credit union's president, will succeed James Garvey, who is retiring.

Shopkeepers and other establishments say banks' costs have fallen substantially in recent years but interchange prices have held steady since the Federal Reserve capped them in 2010.

Shop owners and other establishments say banks' costs have fallen substantially in recent years but interchange prices have held steady since the Federal Reserve capped them in 2010.

The legislation, which takes effect in July, follows a 2019 law that modernized the state's credit union statutes.

The Las Vegas-based institution has joined a small group of credit unions whose assets top $1 billion, which make up less than 10% of the total industry.

Now known as Alltrust Credit Union, the Fairhaven, Mass.-based institution serves more than 14,000 members across New England.