Citing Trump Tax Cuts, Regions Boosts Investments

Regions says it will boost its minimum wage, and increase other investments, thanks to the Republican tax cut plan signed into law by President Donald Trump last month.   The Birmingham-based bank Tuesday said the savings will allow it to will pay employees at least $15 an hour by the end of 2018.    Regions says that will mean more money for about a quarter of its workforce.    Regions also committed to contributing $40 million to the company‚Äôs charitable foundation to support financial education, job training, economic development, and affordable housing.  The company will also increase capital spending by approximately $100 million to support investments in facilities, technology, product innovation, and personalized service to meet customer needs.   "We understand that the growth of our company is based on the economic vitality of the communities where we do business, as well as the work from our team of talented associates who are committed to serving our customers every day," said Regions Chairman and CEO Grayson Hall.  "The investments we are announcing today in our workforce, our communities and our company reflect our commitment to creating shared value and will support sustainable growth that ultimately benefits our customers and shareholders."

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