‘Trump Accounts’ Matched By JPMorgan and Bank of America—$1,000 Government Deposits Will Be Matched For Employees

ByZachary Folk,

Forbes Staff.

JPMorgan will match the government’s initial $1,000 deposit in Trump accounts for newborn children for eligible employees in the U.S., the bank said Wednesday—as Bank of America also told employees it would offer to match deposits, according to a memo.

In a statement, JPMorgan chairman and CEO Jamie Dimon said the contributions would be part of their “long-term commitment” to their 190,000 employees in the U.S., and would make it “easier for them to start saving early, invest wisely, and plan for their family’s financial future.”

In a memo from the bank to its employees viewed by Forbes, Bank of America praised the accounts as “innovative solutions for employees and families to plan for their future” and confirmed they would match the government’s initial $1,000 investment.