Following the historic tax reform law’s enactment, banks of all sizes continue to increase frontline employee wages, provide employee bonuses, invest in new technology and make additional charitable contributions.
As the new year begins and a historic tax reform law takes effect, banks continue to unveil wage increases, bonuses and increases in charitable contributions.
With the signing of the tax reform bill last week came a flurry of announcements from banks of all sizes about how they plan to pass on the savings they will see from corporate tax cuts to their employees, customers and communities.
Seattle-based Washington Federal has announced that it will increase wages for certain employees, make investments in technology and increase its funding for charitable causes with the savings it will see as a result of the tax reform bill, which was passed yesterday.
A new survey of bank executives indicates that the competition for talented employees is likely to continue in the near term.
In the wake of a federal judge invalidating the Obama administration’s overtime rule, ABA offered comments on overtime issues to the Department of Labor, which is seeking feedback as part of a Trump administration effort to reduce regulatory burdens on businesses.
Mortgage servicing, fair lending, vendor risk management and sales practices are among top priorities, according to ABA experts.
The Consumer Financial Protection Bureau today issued a bulletin outlining expectations for incentive compensation programs.
ABA today announced that it is offering a student debt repayment benefit for employees. Starting in December, the association will pay up to $1,200 per year toward employees’ student loan balances.