The U.S. Department of the Treasury 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 the designation, BNY will manage the initial accounts and help develop the Trump Accounts app, which is intended to provide families with a secure platform to access and manage their accounts, while Treasury retains control over the app and operations for these initial accounts. As part of the implementation, BNY has partnered with Robinhood, which will serve as the brokerage and initial trustee for Trump Accounts. The app is being built as a custom, white-label product designed exclusively for Treasury, with the National Design Studio and Robinhood creating the user interface and user experience; Treasury also reiterated that its financial agent authority is supported by longstanding statutory powers and is subject to oversight, performance standards, and security controls.
U.S. Department of the Treasury 2026-04-06
U.S. Department of the Treasury designates BNY Mellon as financial agent to implement Trump Accounts and develop Treasury-controlled app
The U.S. Department of the Treasury has designated The Bank of New York Mellon Corporation as a financial agent of the U.S. government to support implementation of the new Trump Accounts program, including managing initial accounts and helping develop a dedicated app. BNY has partnered with Robinhood, which will act as brokerage and initial trustee for Trump Accounts, with the app built as a custom white-label product by the National Design Studio and Robinhood, and Treasury emphasizing that its authority is grounded in longstanding statutory powers and subject to oversight and security controls.