Bank of America raises its U.S. minimum wage to $24 an hour

Bank of America is closing in on its objective of paying its U.S. workers a minimum of $25 an hour by 2025, increasing its base wage to within a buck of that goal starting in October. 

The step represents an increase from a $23 hourly rate set last September, the Charlotte, North Carolina-based bank said Tuesday. The $1 hourly boost, which will apply to all full- and part-time hourly jobs in the U.S., brings a full-time annualized salary to roughly $50,000. 

BofA declined to say how many workers would get the pay hike, telling CBS MoneyWatch that it would be in the "thousands."