---
title: Juneteenth 2022
description: You might recall that on June 17, 2021, President Biden declared “Juneteenth” a Federal holiday.  The lack of lead time and regulatory guidance initially
---

[Banker's Compliance Consulting Blog ](https://blog.bankerscompliance.com/en)

# [Juneteenth 2022](https://blog.bankerscompliance.com/en/juneteenth-2022)

 Written by [Amy Kudlacek](https://blog.bankerscompliance.com/en/author/amy-kudlacek) | May 31, 2022 9:02:32 PM

You might recall that on June 17, 2021, President Biden declared “Juneteenth” a Federal holiday.

The lack of lead time and regulatory guidance initially created a lot of chaos for institutions, but this year should be much less eventful. You still need to be aware; however, that Juneteenth’s designation as a Legal Public Holiday has a direct impact on several lending and deposit compliance requirements, regardless of whether your institution is open or closed.

This year, Juneteenth (June 19th) falls on a Sunday, which means it will be “observed” on the following Monday, June 20th. For Regulation Z requirements that use the “precise” business day definition, June 20th is considered a business day. This includes rescission periods, wait times associated with the Loan Estimate, Closing Disclosure, Escrow Account Cancellation Notice or High-Cost Mortgage Disclosures, etc.). For requirements that use the “general” business day definition, it depends on whether your institution will be open *for substantially all business functions*. In other words, if you are open on June 20th, it is a business day and, if you are closed on June 20th, it’s not a business day.

For Regulation CC, however, the definition of a business day specifically states that, if any of the five legal public holidays mentioned by a specific date (New Year’s Day-January 1, Juneteenth National Independence Day-June 19, Independence Day-July 4, Veteran’s Day-November 11, or Christmas-December 25) fall on a Sunday, the next Monday is not a business day. So, for Regulation CC purposes, June 20th is not a business day, whether you are open or not.

Check out the June 2022 edition of our magazine, [*Banking on BCC*](https://store.bankerscompliance.com/link/magazine), for a full rundown of “business days” and their effect on various compliance requirements.

Published   
2022/05/31

[View full post](https://blog.bankerscompliance.com/en/juneteenth-2022)

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