Robinhood, BNY Tapped to Manage Trump Accounts for Children (1)

Robinhood Markets Inc. and Bank of New York Mellon Corp. will help manage the “Trump accounts” created for children as part of the One Big Beautiful Bill Act last year.

BNY will manage the initial accounts and help develop an app for the program, and Robinhood will serve as the brokerage and initial trustee, the US Treasury Department said in a statement Monday. The accounts will be available for contributions starting on July 4.

The Trump administration is investing in the accounts ahead of the midterm elections later this year as the issue of affordability is increasingly in focus across ...