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Bank of America boosts hiring, worker pay

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Christian Fernsby ▼ | March 21, 2020
Bank of America’s consumer division has hired 1,700 people in critical support roles so far this month, a spokesman said yesterday, as the industry faces a surge in customer service demand due to concerns about the coronavirus outbreak.
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The bank also said it would be paying an additional $200 per pay period to front line workers in branches, call centers and operation centers and enhanced overtime pay, according to a memo seen by Reuters.

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Bank of America announced several relief measures for small businesses and consumers, including deferred payments on credit cards, auto loans and mortgages as well as refunds for checking account fees. Requests for refunds and deferrals are handled on a case by case basis, the bank said in a statement late on Thursday.

“We’re going to continue to provide convenient access to the important services they count on, and the additional assistance and support they need during this difficult period,” Dean Athanasia, head of the bank’s consumer and small business unit, said in a statement.