WASHINGTON – The U.S. Treasury Department announced Monday that Bank of New York Mellon Corporation will serve as the government’s financial agent to oversee the newly established Trump Accounts initiative.
According to Treasury officials, BNY Mellon will be responsible for creating the Trump Accounts mobile application and overseeing the program’s initial account management. Meanwhile, Robinhood has been selected to handle brokerage services and serve as the program’s first trustee.
The Trump Accounts represent a government-backed investment program for American newborns that President Donald Trump unveiled in January. Under the initiative, Treasury will place $1,000 into investment accounts for every child born in the United States during a four-year window from 2025 through 2028. Officials estimate approximately 25 million American families will qualify for these accounts.
