The U.S. Department of the Treasury selects BNY Mellon and Robinhood to participate in the Trump account program

2026-04-06 14:46:19

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Mars Finance news, according to The Wall Street Journal, the U.S. Department of the Treasury has selected Bank of New York Mellon (BK.N) and Robinhood (HOOD.O) to participate in the Trump account program. Bank of New York Mellon (BK.N) will serve as the financial agent to manage the initial accounts, and the two sides will also collaborate to develop a white-label application. It is understood that the Trump accounts, also known as 530A accounts, are a tax-deferral investment account plan proposed by U.S. President Donald Trump on June 9, 2025. The program is intended to establish government-funded savings accounts for children of U.S. citizens born between January 1, 2025 and January 1, 2029. Each account has an initial amount of $1,000 and invests in index funds that track the U.S. stock market.

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