Minimum wage

The big squeeze: Banks pushed to hike pay at inopportune time


The tight labor market and public pressure to raise minimum wages are expected to nudge noninterest expenses upward in a year when the watchword is cost control.


Business loan demand softer; BofA speeds minimum pay hike


Businesses scaled back investment plans in the third quarter, but consumers continued borrowing; the bank now plans to raise its minimum wage to $20 in 2020.


'The whole situation is frustrating': Comments of the week


Readers react to the Fed's lengthy plan for a real-time payments system and Fifth Third's minimum wage increase, jab at Sen. Warren's absence on the Senate Banking Committee and more.


Fifth Third is latest bank to raise its minimum wage


The Cincinnati regional bank says it will spend an extra $15 million a year to offer more competitive pay that it hopes will attract talented front-line employees.


Wells under renewed fire; Société Générale to slash almost 1,600 jobs


Three regulators warn Wells it hasn’t made enough progress on consent order; poor fourth quarter investment banking revenue ignites cutbacks.


Banks’ payoff from minimum-wage hikes


Raises for the rank and file have fueled investor complaints that banks aren’t keeping a lid on expenses. Executives say the pay increases have lowered turnover and improved customer service.


'It's reminiscent of Blockbuster investing in remodeling': Comments of the week


Readers react to efforts to improve bank branches, weigh the Consumer Financial Protection Bureau's decision to pull back on enforcing the Military Lending Act, consider efforts to build finetch sandboxes and more.


'Prelude to stealing America's wealth': Comments of the week


Readers react to an argument about reining in banker pay, weigh the push for raising the minimum wage, respond to Wells Fargo getting back into the private-label securities market and more.


How increasing the minimum wage helps women in banking


Currently, the vast majority of bank tellers are female and most don’t earn a living wage.