Bank of America is embracing the Trump administration’s signature savings initiative, pledging to match the federal government’s $1,000 contribution to Trump Accounts for eligible employees’ children born between 2025 and 2028.
The nation’s second-largest bank will also allow employees with children under 18 to make pretax contributions to the accounts through payroll deduction, according to an internal memo obtained by Breitbart News that was sent to the company’s 165,000 U.S. employees on Wednesday morning.
The announcement comes ahead of the Treasury Department’s Trump Accounts Summit scheduled for this week and positions Bank of America as an early corporate adopter of the new federal program.
Trump Accounts, formally known as Section 530A Accounts, are tax-advantaged savings accounts for children under 18 created through the One Big
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