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Counting Rescission Days

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Question: 
We are closed on Thursdays. Do we count that day as a business day for purposes of the right of rescission three business day waiting period?
Answer: 

Generally yes, unless it is a specifically mentioned holiday.

Section 226.2 Definitions and rules of construction.
for purposes of rescission under Section Section 226.15 and 226.23, and for purposes of Section 226.31, the term means all calendar days except Sundays and the legal public holidays specified in 5 U.S.C. 6103(a), such as New Year’s Day, the Birthday of Martin Luther King, Jr., Washington’s Birthday, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day, and Christmas Day.

First published on BankersOnline.com 2/16/04

First published on 02/16/2004

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