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The U.S. Department of the Treasury selects Bank of New York Mellon and Robinhood to participate in the Trump account program
ME News Report, April 7 (UTC+8), 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 managing the initial accounts, and the two parties will also collaborate on developing a white-label application. It is reported that the Trump Account, also known as the Section 530A account, is a tax-deferral investment account plan proposed by U.S. President Trump on June 9, 2025. The plan aims to establish government-funded savings accounts for the children of American citizens born between January 1, 2025, and January 1, 2029. Each account starts with an initial amount of $1,000 and invests in index funds tracking the U.S. stock market. (Source: ChainCatcher)