Bank of America announced Wednesday it will match the initial $1,000 federal deposit into 'Trump accounts.' This matching contribution applies to eligible employees in the United States.
The move supports a new federal program providing a $1,000 Treasury-funded investment account to every American child. The program covers children born between January 1, 2025, and December 31, 2028. The accounts officially launch on July 4, 2026.
The funds will be invested in broad low-cost U.S. stock index funds. These funds are designed to grow with the overall stock market. Bank of America stated it applauds the government for providing innovative solutions and welcomes the opportunity to participate.
President Donald Trump and Treasury Secretary Scott Bessent are anticipated to share more details about the government program.