$BNY Bank of New York Mellon Tape Reports
Per Ticker.id: $BNY Bank of New York Mellon Tape Reports — 1 podcast mention across 1 podcast (30 days), latest 2026-08-21 10:00 UTC.
She writes, one question that arose for the Trump accounts is they can only be opened by the Treasury with Robinhood as the broker rather than allowing other brokerages like Vanguard, Fidelity, et cetera, to host them. Is this a pilot or setup limitation, or does that feel fishy to you, Farnoosh? Like Robinhood bought the ability to host the Trump accounts. All right, this is a fair question, and I did go digging, and here's what I learned. Robinhood is the sole initial broker and trustee. Initial— it's not supposed to be the only place Trump accounts can ever live. So the Treasury initially selected Bank of New York Mellon, BNY, as the government's financial agent agent for the program. Then BNY partnered with Robinhood, which is serving as the brokerage and the initial trustee. So Robinhood is supplying much of the technology, the customer support, and the infrastructure behind the Trump account experience. The Treasury describes the app as a custom white-label Treasury product, meaning that you're not opening an account on Robinhood. The Treasury retains control over the app and the operations for these initial accounts. And so that's the first distinction. The other distinction is you're not stuck at Robinhood forever if you just don't like them. The Trump account rules allow the full balance to eventually move via a trustee-to-trustee transfer into another eligible Trump account provider. So I looked into this, and Vanguard actually has publicly said that it plans to support Trump account rollovers once the necessary guidance is available from the Treasury. Vanguard has also been selected as one of the fund providers available inside the Treasury program. Program. And Fidelity has similarly told investment professionals that it is exploring the requirements for offering rollover Trump accounts while noting that the industry is still again waiting for guidance. So this isn't like Robinhood gets your kids' money for 18 years, end of story. It's more like the Treasury has established the account through one centralized initial system, and eventually families should legally have the ability to transfer the account to another another qualified provider. Now, you might be wondering why Robinhood, and I think this is where Steph's skepticism is very reasonable because they don't have a great track record legally. There was competition.
Farnoosh Torabi — So Money with Farnoosh Torabi · 2025: Ask Farnoosh: Are We in a Housing Bubble? Plus: BNPL Warning Signs, AI Shopping Scams & Should You Consolidate Your 401(k)s? · 2026-08-21It is extraordinary. BNY, the Bank of New York Mellon, BNY, they have Alicia Levine and Jeffrey Yu. Without question, the math acuity there is absolutely lights out. Jeffrey Yu joins us right now from BNY. Jeffrey, in your research note, you got a beautiful short thing, which is foreigners have significant exposure to our long paper. And you just simply say, who owns the long end? How much of our long end is owned by Japan?
Tom Keene — Bloomberg Surveillance · Week of Whiplash in Treasuries Is Closing With Traders on Pause · 2026-08-21And, you know, I even think this about things like, oh, Circle comes public, it's a stablecoin company. It's like, congrats, uh, you know, you're a custodian, uh, you, you earn money off T-bills. Uh, Bank of New York Mellon, uh, has trillions of dollars, trades at 12 times earnings, you know. So I do think that you have to be aware of that and you kind of ride the exciting phase and then figure out how it, how it decelerates off of that.
Michael Santoli — The Compound and Friends · How to Play the Money Game with Michael Santoli · 2026-08-21