Bank of America officials announced Monday the company’s minimum wage for U.S. employees will increase to $22 an hour starting at the end of June.

The bank moves closer to making good on a promise to pay a minimum wage of $25 an hour by 2025.  The current minimum salary there is $21 an hour. Company officials say they continue to work to attract and retain the best talent by offering competitive pay, industry-leading benefits and resources for physical, emotional and financial well-being.

Thanks to Mary Liz Nolan of WGAC for the story.