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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Bank of America Corporation | NYSE:BAC | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.52 | -1.36% | 37.80 | 38.27 | 37.375 | 38.01 | 41,115,961 | 00:50:19 |
From Apr 2021 to Apr 2024
By Colin Kellaher
Just over one year after raising its U.S. minimum wage to $20 an hour, Bank of America Corp. on Tuesday said it plans to raise its hourly minimum to $25 by 2025.
The Charlotte, N.C., banking giant also said it is requiring all its of its U.S. vendors to pay employees who are dedicated to the bank at least $15 an hour.
In March 2020, Bank of America raised its minimum hourly wage to $20, a year ahead of plan, after boosting it to $17 an hour in 2019.
President Biden campaigned on a pledge to raise the federal minimum wage to $15 an hour, but a February push by Democrats to include the increase in the $1.9 trillion Covid-19 relief package was unsuccessful. Mr. Biden in late April signed an executive order requiring that federal contractors pay a $15-an-hour minimum wage.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 18, 2021 11:25 ET (15:25 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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