Some Bank of America employees are going to get a raise. This morning on MSNBC, Chairman and CEO Brian Moynihan announced that starting May 1, the hourly minimum wage will rise to $17 and will go higher in increments for the next two years to $20 and hour.
The Bank will also not raise health-care costs for employees.
“If you get a job at Bank of America, you’ll make $41,000” a year, Moynihan told MSNBC on Tuesday.
The move comes a day before several bank CEOs are set to testify before the House Financial Services Committee in Washington.
