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BofA hourly minimum wage to be $20 by mid-2021

The minimum wage for Bank of America employees will increase to $17 an hour May 1 and will be $20 an hour by mid-2021, says CEO Brian Moynihan, who notes employees have to be paid more to keep up with the strong economy. Health care cost increases for lower-paid staffers have been frozen, Moynihan says.

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