Empower

The Trump administration plans to launch Trump Accounts next week without allowing firms to host the children’s savings accounts on their platforms. Companies like Chime, Empower, Fidelity, and SoFi had hoped to enable rollovers from the Treasury Department’s app, developed with Bank of New York Mellon and Robinhood, but guidance on rollovers may not arrive until August.

Analog Devices is nearing a $1.5 billion deal for Empower. The company is an American multinational semiconductor company. The deal is reportedly close to being finalized.