USA: Amalgamated Bank raises minimum wage to $15 level cited by advocates as living wage - calls on other banks to follow
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Author: Dan Rivoli, New York Daily News (USA)
Ads from a bank advocating a minimum wage hike slipped into the subway system, forcing the MTA to order their removal to abide by its no-politics advertising policy. The ad from Amalgamated Bank, a liberal financial institution, promoted the #RaiseTheWage campaign, with a tagline, “Raising the minimum wage lifts up all New Yorkers. Join the bank that fights for working families.”... Amalgamated Bank’s CEO and president, Keith Mestrich, blasted the MTA for withdrawing its purchase [saying]...“The #RaiseTheWage campaign is not about politics, it's about giving the people of New York a fighting chance...” ...The [MTA's] viewpoint-neutral ad rules were instituted in response to anti-Islam advertisements...
Author: Amalgamated Bank (USA)
Over 45 million Americans live in poverty in part because the federal minimum wage of $7.25 per hour is too low. In fact, wages are so low that, according to one study, a minimum wage worker working a standard 40-hour week cannot afford to rent a one-bedroom apartment anywhere in America without spending more than 30 percent of his or her income. If we do not take action now to raise the wage, low wage workers and their families may never exit the cycle of poverty. That is why we at Amalgamated Bank recently became the first bank in the nation to raise our minimum wage to $15 per hour, and we call on all banks to do the same.
Author: Amy Smoucha, Jobs With Justice (USA)
Today, Amalgamated Bank announced that it will raise wages for all of its employees to $15 an hour [effective immediately], and in doing so, challenged the rest of the banking industry to follow in its footsteps to ensure more Americans have jobs they can sustain a family on... CEO Keith Mestrich explained “A livable minimum wage is not only the right thing to do—it’s also good business. As one of the highest grossing industries, it is simply unacceptable that a significant portion of bank workers rely on public assistance...” [also refers to Capital One, Wells Fargo, Bank of America, Target, Walmart]