Items Tagged with 'Minimum wage'

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  • Fifth Third Bancorp to raise minimum wage to $18

    Minimum wage earners will rake in about $500 more per month
    Starting in October, almost 5,000 Fifth Third Bancorp employees will see a nice boost in their paychecks. After raising its minimum hourly rate from $12 to $15 in January 2018, the bank will once again increase its rate, this time to $18 per hour, the company announced Tuesday. 
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  • Bank of America raises minimum wage to $17 per hour

    Bank plans to boost wages to $20 per hour by 2021
    When Bank of America’s employees received their bi-weekly paychecks this week, the lowest dollar amount that any of them earned per hour was $17 after the bank officially increased its minimum hourly wage from $15 to $17 this month.
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  • Bank of America is raising its minimum wage to $20

    Announces pay raise day before congressional hearing on big bank behavior
    Bank of America plans to raise the minimum wage of its 205,000 employees this year, eventually boosting it to $20 per hour within the next two years. CEO Brian Moynihan said Tuesday on MSNBC that the bank will increase pay to $17 per hour starting May 1st, climbing incrementally until it lands at $20 in 2021.
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  • [Video] First Financial Northwest gives back to employees after tax reform

    Announces $1,000 bonus for all non-executive employees
    First Financial Northwest, the holding company for First Financial Northwest Bank, became the latest bank to report it is giving back to its employees after tax reform passed. It announced it has given all of its non-executive employees a $1,000 after-tax bonus, regardless of their role or tenure with the company.
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  • U.S. Bank becomes latest bank to increase wages, hand out bonuses after tax reform

    Also making $150 million contribution to bank’s charitable arm
    Late last month, after President Donald Trump signed the tax reform bill into law, several large financial institutions announced that they planned to raise employee wages and make other investments thanks to the law reducing the corporate tax rate from 35% to 21%. On Tuesday, U.S. Bank became the latest bank to take similar action.
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  • These banks raised wages on heels of tax reform

    More mortgages for low-to-moderate income borrowers, too
    Banks are giving back to their employees after Republicans in Congress passed their major tax overhaul last week. One bank even announced it would increase funding to its program which offers down payment assistance and financial education to homebuyers.
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  • [Factsheets] It's officially impossible to rent at minimum wage in most of the country

    Less than 20 states show practical rental affordability
    These charts from the National Low Income Housing Coalition break down the information from each state to show how rising rent costs and affordability issues are affecting those that earn minimum wage. What's worse, there are no states where you can work less than 40 hours a week at minimum wage and still afford to rent even a one-bedroom unit.
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