Bank of America

The move, which brings the bank a step closer to fulfilling its pledge of paying $25 per hour by 2025, will increase the annualized salary for full-time employees to more than $45,000.

The note comes just one day after the Labor Department reported inflation surged higher than expected in April, with prices rising 8.3%, close to a 40-year high.

The S&P 500 just suffered its worst April performance since 1970, plunging into its second correction of the year — now, many experts are lowering their projection for the index this year.

Bank of America CEO Brian Moynihan revealed whether he believes a recession in the United States is imminent.

Bank of America Corp reported a fall in first-quarter profit on Monday, as a slowdown in global deal making weighed on its investment banking businesses.

Bank of America CEO Brian Moynihan argued geopolitical events and supply chain issues are creating "additional uncertainty," but notes that overall the U.S. economy is strong based on consumer spending, low unemployment and wage growth.

Bank of America economists expect the Federal Reserve to hike interest rates at every meeting for the remainder of the year as central bank policymakers look to tackle inflation.

Bank of America CEO Brian Moynihan predicted the economy could grow by 4% in 2022 and said that it's the Fed's "job" to bring it back to pre-pandemic levels.

Amid increased scrutiny from the CFPB towards banks' overdraft fees, Bank of America announced it is reducing these consumer charges.

Bank of America is joining JPMorgan and Capital One in cutting overdraft fees.

New York City Mayor Eric Adams scolded big banks for sending their Big Apple-based employees back to remote work amid the spread of the highly contagious omicron variant, asserting that the financial powerhouses "can't run New York City from home."

Major corporations found themselves in hot water during 2021 as whistleblowers revealed what they claimed were employee training sessions steeped in critical race theory.

Portland City Commissioner Jo Ann Hardesty defended herself as an "excellent steward of public dollars" amid concerns over her personal credit card debt after Bank of America sued her last month.

Bank of America CEO Brian Moynihan noted that his customers currently have more money in the bank and are spending more, but warned that supply chain issues, labor shortages and inflation could have an impact on economic growth.

Four of the largest U.S. banks said their profits grew by double-digits last quarter, as a healthier U.S. economy has allowed banks to have fewer bad loans and charge-offs.

Bank of America has raised its hourly minimum wage once more.

Bank of America's online banking site is experiencing outages.

Bank of America chairman and CEO Brian Moynihan said the changes "position the company with highly energized leaders who are committed to driving Responsible Growth through its second decade – delivering for our clients, communities and shareholders, and addressing major societal issues."

President Biden on Wednesday called on the private tech sector to “raise the bar on cybersecurity” in the United States.

Bank of America, Lowe's, Truist Financial, and more sponsored a United Way critical race theory challenge claiming that America is institutionally racist and urging people to get "woke at work" and "cede power to people of color."