Robinhood, BNY selected for Trump's savings accounts

Robinhood and BNY Mellon have been chosen by the White House to operate a new child-focused savings account program. The Treasury Department announced that BNY Mellon will manage the initial accounts and develop an associated mobile application. Robinhood will serve as the brokerage and initial trustee for this initiative, dubbed the 'Trump Accounts' program. This partnership signifies a notable collaboration between traditional finance and a popular retail brokerage platform for a government-backed savings initiative aimed at younger individuals.