Financial institution of America stated it was boosting pay for financial institution tellers by $400 a month and lowering each day work shifts by at the very least two hours amid the widening coronavirus epidemic. 

"In our monetary facilities nationwide, eligible staff will proceed to be paid for his or her common, full weekly schedule, even when their hours are adjusted to much less; and eligible staff actively working within the monetary facilities will obtain a particular supplemental fee of $200 per pay interval," the financial institution stated in a Friday memo to staff.

The pay enhance was accredited by CEO Brian Moynihan and can stay in place during the coronavirus disaster, stated an individual with information of the plans. 

Financial institution of America, the second-biggest U.S. financial institution by property, joins rival JPMorgan Chase in boosting pay for elements of its workforce that, because of the nature of their jobs,...