Bank of America to boost minimum wage to $20 each hour by 2021

(Reuters) – Bank of America Corp (NYSE:BAC) said on Tuesday it would raise its minimum wage to $20 an hour for a two-year period.

On May 1, the minimum hourly wage will rise by $2 to $17, the lender said https://reut.rs/2Il5148.

Bank of America joins other Wall Street banks which may have raised hourly wages following U.S. President Donald Trump's move to cut corporate tax rates in 2019.

JPMorgan Chase & Co (NYSE:JPM) is raising hourly wages to between $15 and $18 to secure on the making use of your tax windfall to employees. [https://reut.rs/2F75BgZ]

Bank of the usa raised its minimum wage to $15 24 months ago. The bank's hourly wage has risen by $4 since 2010, it said.