BNY Tapped to Manage Trump Accounts

Bank of New York Mellon selected ahead of new program launch

Apr. 6, 2026 at 7:12pm

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A dimly lit, cinematic painting of an empty boardroom table, with warm sunlight streaming in through a window and casting deep shadows across the surface, conceptually representing the political and financial complexities surrounding the Trump Accounts program.The selection of BNY to manage the Trump Accounts program raises questions about the program's purpose and potential political implications.NYC Today

The U.S. Treasury Department has announced that Bank of New York Mellon Corporation (BNY) has been selected to manage accounts related to the forthcoming Trump Accounts program, a new government initiative aimed at providing financial services to former President Donald Trump and his business entities.

Why it matters

The selection of BNY to handle the Trump Accounts program is seen as a significant move, given the former president's contentious relationship with the federal government and ongoing legal battles. The decision raises questions about the program's purpose and potential political implications.

The details

Under the Trump Accounts program, BNY will be responsible for providing banking, investment, and other financial services to Trump and his businesses. The program is intended to facilitate the former president's access to capital and financial resources, though details about its structure and eligibility criteria remain unclear.

  • The Treasury Department announced the BNY selection on April 6, 2026.

The players

Bank of New York Mellon Corporation (BNY)

A major financial services company headquartered in New York City, BNY has been selected by the U.S. Treasury Department to manage accounts related to the forthcoming Trump Accounts program.

U.S. Treasury Department

The federal agency responsible for overseeing the nation's financial system, including the implementation of the Trump Accounts program.

Donald Trump

The former President of the United States, whose business entities and personal finances will be served by the Trump Accounts program managed by BNY.

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What they’re saying

“We are honored to be selected by the Treasury Department to manage this important program, and we look forward to working closely with all stakeholders to ensure its success.”

— Robin Vince, CEO, Bank of New York Mellon

What’s next

The Treasury Department is expected to provide more details about the Trump Accounts program, including its specific eligibility criteria and operational guidelines, in the coming weeks.

The takeaway

The selection of BNY to manage the Trump Accounts program underscores the ongoing political and legal complexities surrounding the former president's finances and business dealings. The program's launch will likely be closely watched for any potential conflicts of interest or preferential treatment.