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Bank of America raising its minimum wage

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Bank of America announced it would raise the minimum wage for employees to $20 per hour.

The company intends to start raising wages this year and complete the increase in two years.

"If you get a job at Bank of America, you'll make $41,000," Chairman and CEO Brian Moynihan told MSNBC on Tuesday. "With the success our company has ... we have to share that success with our teammates."

Read more from CNBC.

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