NEW YORK—Bank of America Corp. said it was raising its U.S. minimum hourly wage to $22 on Monday, a step closer to its promise of paying workers $25 an hour by 2025.
The second-largest U.S. bank by assets has been steadily raising its minimum hourly wage since 2017, when it was $15, and has been at the leading edge of banks raising base pay for hourly workers.
