Melania Trump launches investment accounts for foster youth (opens in new tab)

First lady Melania Trump and Treasury Secretary Scott Bessent announced Fostering the Future Accounts at the Treasury Department on June 11. The program is a foster-care version of President Trump’s Trump Accounts, which were designed to provide $1,000 to newborns when a parent opens an account. New federal guidance lets child welfare agencies act as guardians for foster children and open accounts, addressing an access problem for children whose legal guardianship can change while they are in...