Closings for Ford's Day of Mourning 01/02?
I work for a bank. We cannot be closed Tuesday because there is a law dating back to the Depression era, stating banks cannot be closed 3 days in a row. We are already closed every Sunday and this Monday for New Year's Day. I understand federal offices will be closed, but not banks, unless they open for Sunday. Can somebody please explain this?
- CGLv 61 decade agoFavorite Answer
My husband works for a bank also. In fact, there are a bunch of payments that have to go out and they are scrambling (well, not really scrambling, but having to make weird plans) to accommodate this rule in light of the government and the market being closed on Tuesday.
My understanding is that this goes back to when there was a run on the banks back when the depression began. The law was passed so people would always have reasonable access to their money....this was back in the day when you had to visit the bank (and probably your own bank only) to get access to your money. In my opinion, it's a bit outdated considering the internet and ATM system now.
- 1 decade ago
Actually, the law is that banks cannot be closed for more than three days. I work at a bank also and its completely fine if they have three day weekends. it happens a lot. we just can't be closed more than three days because of, as you know, the old law from all of the bank panics. So actually, if you wanted to be closed, you could. I dunno where they told you that stuff from but its more than 3 days.
- TeacherLv 41 decade ago
A US President does not die everyday. This is an extreme and unusual occasion. There are exceptions to all rules.
- ?Lv 61 decade ago
you just have explain it. just take a sick day off