On June 17, 2021, President Joe Biden signed Senate Bill S.475 which establishes June 19th as a legal public holiday designated as Juneteenth National Independence Day. The new law inserts the following text after the item relating to Memorial Day into Section 6103(a) of title 5, of the United States Code: “Juneteenth National Independence Day, June 19.” There is no specified effective date in the law, meaning this Saturday, June 19, 2021 will be a legal public holiday.
The definition of “business day” in Regulation Z incorporates 5 U.S.C. 6103(a) into what is commonly referred to as the specific business day portion of 12 CFR § 1026.4(a)(6). The specific business day definition is utilized when determining many time periods under Regulation Z.
First American Docutech is in the process of implementing these changes and will provide more updates as we determine the best way to proceed. In addition, we are working with our integration partners to ensure continuity of data between systems is considered in this process. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.6584.