April 6 (UPI) -- The Department of the Treasury announced Monday that The Bank of New York Mellon Corporation will handle the Trump Accounts program and that Robinhood will be the brokerage and initial trustee.
BNY will manage the initial accounts and develop the Trump Accounts app.
"Together, these partners will support Treasury's goal of ensuring every eligible child can access a Trump Account quickly and easily," a press release from the Treasury said.
The accounts are tax-deferred investing accounts for children born between 2025 and 2028. They are scheduled to launch on July 4 with a $1,000 deposit from the Treasury.
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