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Bank of America is raising its minimum pay to an hour for its more than 205,000 employees.The company will implement the new minimum wage over the next two years, according to comments made by CEO Brian Moynihan on MSNBC earlier Tuesday.Paychecks will initially be raised to an hour starting May 1, before climbing incrementally until 2021. Two years ago, the bank's employees got a raise to a minimum of an hour, according to a company press release.BofA is not the first main street bank to up minimum compensation for its employees. In January last year, JPMorgan Chase announced its intention to 624

Athletes at universities in California are one step closer to being able to profit off their likeness as sweeping legislation meant to neuter the NCAA's amateurism bylaws was approved by the state's Senate on Wednesday. Meanwhile on Wednesday, NCAA leaders sent a letter to California's Gov. Gavin Newsom to claim that the legislation is "harmful" and "unconstitutional." After House and Senate approval, the bill now sits on the governor's desk.The NCAA claims that the legislation would create an unequal playing field. "California Senate Bill 206 would upend that balance," the NCAA said in its letter to Newsom. "If the bill becomes law and California’s 58 NCAA schools are compelled to allow an unrestricted name, image and likeness scheme, it would erase the critical distinction between college and professional athletics and, because it gives those schools an unfair recruiting advantage, would result in them eventually being unable to compete in NCAA competitions. These outcomes are untenable and would negatively impact more than 24,000 California student-athletes across three divisions."The bill would allow student athletes to earn money off endorsements, autograph sessions and public appearances. The bill would not require colleges to pay athletes. The legislation was unanimously approved by both the House and Senate this week.Under current bylaws, even something as simple as someone buying lunch for a student athlete would be considered an improper benefit.Complicating matters for the NCAA, the legislation would prohibit the NCAA from banning teams in California from participating in intercollegiate competitions. That point could force the NCAA to either make dramatic changes to its bylaws or take the state of California to court.The legislation would be effective as of Jan. 1, 2023.In May, the NCAA announced the formation of a working group of college administrators. Their goal is to examine how to respond to legislation like the one put forth by California. Ohio State Director of Athletics Gene Smith said that the NCAA is not interested in having colleges directly paying student athletes.“While the formation of this group is an important step to confirming what we believe as an association, the group’s work will not result in paying students as employees,” Smith said. “That structure is contrary to the NCAA’s educational mission and will not be a part of this discussion.”The working group said in May it would provide an update in August, but so far, has not provided an update.While the NCAA, led by President Mark Emmert, and others are staunchly against paying athletes, college athletics is flushed with money, and its practitioners are handsomely compensated. In 2016, the NCAA and CBS came to an .8 billion, eight-year extension to air the NCAA Men's Basketball Tournament.In 2012, ESPN agreed to a .3 billion deal through 2026 to air the College Football Playoff.One of the NCAA leaders who signed the letter on Wednesday was Ohio State President Michael Drake. Ohio State's men's basketball coach is paid more than million a season. Ohio State's new head football coach is paid .6 million.The players are compensated with a college scholarship which generally includes room and board. A player who receives what the NCAA deems as an improper benefit, such as an endorsement deal or a free lunch, would be considered ineligible. There have been many instances of players breaking NCAA bylaws, causing teams to be disqualified from NCAA championships. The bill has not only received bipartisan support, it has garnered support from athletes, including Lakers forward LeBron James. 3651

As health officials scrutinize marijuana vaping, it’s increasingly on law enforcement’s radar, too.From New York City to Nebraska farm country to California, authorities have seized at least 510,000 marijuana vape cartridges and arrested more than 120 people in the past two years, according to an Associated Press tally derived from interviews, court records, news accounts and official releases.A Wisconsin mother, her two adult sons and five other people were charged this fall in what investigators describe as a black-market 542

As the pandemic hits the economy hard, lenders and credit card issuers are offering payment modification programs such as forbearance and deferrals.The coronavirus relief package enacted March 27 requires that accounts that were in good standing before modification be reported as current as long as the consumer abides by the agreement.But for many consumers with federal student loans, relief over a 6-month automatic pause on payments turned into dismay as credit scores plummeted. Consumers complained on social media that their accounts were wrongly reported as delinquent or in non-payment status.That’s not how it was supposed to work, says credit expert John Ulzheimer, who has worked for credit bureau Equifax and scoring company FICO. He says student loan servicers are working to address problems, and he hasn’t heard of similar issues involving other types of lenders or credit card issuers.If your credit score drops, here’s how to diagnose what’s going on and what to do next.First, check your credit reportsWhether you have payment modifications or not, it’s a good idea to regularly check that your credit activity is being reported correctly.Through April 2021, consumers can access free credit reports weekly from each of the three major credit bureaus — Equifax, Experian and TransUnion — by 1323

Building a car in the United States, and buying one, could get a lot more expensive.Every American auto factory depends on Mexican parts to build its cars or trucks. That's why President Donald Trump's 214