00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The U.S. Treasury Department said Monday that Bank of New York Mellon has been selected as
00:06a financial agent to support implementation of the Trump Accounts program, according to Reuters.
00:11BNY will help develop the Trump Accounts app and manage the initial accounts,
00:15while Robinhood will serve as the brokerage and initial trustee.
00:18BNY CEO Robin Vince said the firm was honored to be selected and aims to provide more children
00:23with long-term financial security. Robinhood CEO Vlad Tenev said the platform will support
00:27the next generation's financial future. Trump introduced the government-supported
00:31investment accounts in January. The Treasury said it will deposit $1,000 into accounts for
00:36children born between 2025 and 2028, with about 25 million families eligible.
00:41For all things money, visit Benzinga.com.
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