$21 is becoming the new $15 in minimum wages

Key Facts

Updated on: October 12, 2021 / 1:48 PM / MoneyWatch USAA is increasing wages by a little over 30% for its lowest-paid employees, as the nation's 29th-biggest bank — the second-largest — in paying an hourly rate of at least $21.
Prior to this week, USAA had been paying an hourly minimum of $16, a buck more than the $15 minimum being called for in proposals to increase the .
JPMorgan Chase, the biggest U.S. bank, pays a minimum of $16.50 to $20 an hour, depending on an area's cost of living.
Walmart increased its minimum wage by a buck to $12 an hour last month, paying less than Amazon and its smaller rival, Target, which like Amazon pays at least $15 an hour.