Treasury Department Designates BNY as Financial Agent to Support New Trump Accounts Program

WASHINGTON, D.C. — The U.S. Department of the Treasury today announced that it has designated The Bank of New York Mellon Corporation (“BNY”) as a financial agent of the U.S. government to support implementation of the new Trump Accounts program. Under this designation, BNY will manage the initial accounts and help develop the new Trump Accounts app — a secure, user-friendly platform that will enable families to easily access and manage their accounts.As part of this process, BNY has partnered with Robinhood, which will serve as brokerage and initial trustee for Trump Accounts. Together, these partners will support Treasury’s goal of ensuring every eligible child can access a Trump Account quickly and easily.The Trump Accounts app is being developed as a custom, white-label product designed exclusively for Treasury.