Mastercard to fund travel, lodging for employees abroad

According to an internal memo seen by Reuters, Mastercard Inc will fund travel and lodging for employees seeking abortion outside their home states from June.

As several states tighten abortion restrictions, companies like Microsoft Corp, Amazon.com Inc. and Tesla rushed to the aid of their U.S. employees.

The top court of the country is poised to overturn a 1973 ruling that legalized abortion nationwide, according to a draft majority opinion by the U.S. Supreme Court.

Three of the six major U.S. banks have already taken initial steps towards the effort. Citigroup Inc was the first major bank to cover travel expenses for employees who go out of state for abortions in March.

The policies that cover abortion benefits are being reviewed by Peers JPMorgan Chase Co and Goldman Sachs Group Inc.

The memo said that Mastercard will cover surrogacies, adoption services, vasectomies and access to contraception, as well as expenses related to pregnancy terminations.