The U.S. Treasury has designated Bank of New York Mellon as the government's financial agent for Trump Accounts, putting the bank in charge of managing the accounts. BNY has partnered with Robinhood, which will serve as brokerage and initial trustee and will help build a dedicated Trump Accounts app for parents to manage their balances. The initiative was part of President Donald Trump's "Working Families Tax Cuts" package. Every American child born from 2025 to 2028 eligible for a one-time $1,000 Treasury contribution into a Trump Account, with money locked and invested until adulthood. The seed money will be invested by default into a broad stock index fund with tax-deferred growth and penalty-free access at retirement. The bank will manage the initial Trump Accounts and design a custom app for the government.