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Bank of America to Give Parents Backup Childcare Payments Through December

  • Employees can claim either $75 or $100 a day for care
  • More than $100 million in reimbursements have been arranged
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Bank of America is extending backup child care payments for parents of children as old as 12. Sheri Bronstein, Bank of America chief human resources officer, explains why. Source: Bloomberg)

Bank of America Corp. will extend backup childcare payments for parents of children as old as 12 through the end of the year.

Starting Sunday, eligible employees can get daily childcare reimbursements of $75 or $100, depending on their compensation. There’s no limit on the number of days employees can claim while they’re working from home or in the office through Dec. 31, according to a memo sent to employees.