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BNY Mellon named financial agent for new Trump accounts program

Monday 06 April 2026 - 16:00
BNY Mellon named financial agent for new Trump accounts program

The U.S. Treasury Department announced that the Bank of New York Mellon (BNY Mellon) has been selected as a financial agent to support the rollout of the new Trump Accounts program.

BNY Mellon will assist in developing the Trump Accounts application and manage the initial accounts, while Robinhood will act as the brokerage and initial trustee of the accounts.

The Trump Accounts program, introduced by former President Donald Trump in January, provides government-supported investment accounts for newborns in the United States. The Treasury plans to deposit $1,000 into these accounts for every child born between 2025 and 2028, with an estimated 25 million families expected to benefit.

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