BNY Mellon Secures Treasury Mandate, Partners with Robinhood on Kids’ Trump Accounts App
The U.S. Treasury named BNY Mellon as official agent for its “Trump Accounts” program, with Robinhood serving as brokerage trustee to manage children’s early investment accounts via a white-label app. BNY Mellon will build and operate the app, with the Treasury enforcing performance standards, protecting public funds and overseeing compliance.
1. Program Launch and Partners
The U.S. Treasury has launched the Trump Accounts program, selecting BNY Mellon as its official financial agent and Robinhood as the brokerage trustee. The initiative is designed to provide children early access to structured savings and investment accounts through a custom white-label mobile application.
2. BNY Mellon Responsibilities
Under the agreement, BNY Mellon will build, operate and manage the mobile application while overseeing initial account setup and fund administration. The bank will leverage its custodial infrastructure to ensure secure transactions and user-friendly navigation for first-time investors.
3. Oversight and Program Goals
The Treasury retains full control over the platform, enforcing performance standards, safeguarding public funds and overseeing federal compliance. Officials emphasize the program’s focus on financial inclusion and literacy by streamlining account access and enhancing security for eligible families.