Bank of America plans wage hike a year early

Bank of America plans to raise its minimum wage to $20 per hour in 2020, a year earlier than previously announced.

By the end of first quarter 2020, the bank's minimum wage will rise from $17 per hour, officials announced Monday.

“As part of our commitment to being a great place to work, we are saying thank you, and sharing our success with our teammates who serve our clients and communities every day,” said Sheri Bronstein, chief human resources officer at Bank of America, in a statement.

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