Bank of America plans to raise its minimum wage to $20 an hour over two years. The baseline will rise to $17 on May 1 and then climb to $20 in 2021, the Charlotte lender said Tuesday in a statement.
Banks of all sizes need to stick together to ward off threats from "unregulated" fintechs and other nonbanks, Bank of America Chairman and CEO Brian Moynihan said Tuesday.
Bank of America pledged to commit $5 billion over the next five years to its program aimed at homebuyers with low to moderate incomes and multicultural households.
Citigroup earned the lone "A" on an investment firm's scorecard that measures companies' commitments to closing the pay gap between men and women. Goldman Sachs was one of four banks to receive an "F."
Under the hood of U.S. Bank's new mobile app; BofA, Wells Fargo sour on blockchain; are Fannie and Freddie too big?; and more from this week's most-read stories.
They haven't thrown in the towel yet, but comments by top executives at the two big banks suggested that their interest in finding financial services uses for distributed ledgers is wearing very thin.
Letters to eight bank CEOs from the Idaho senator were a rebuttal to calls by some Democrats for financial institutions to cut ties with firearms manufacturers, prison companies and others.
