Columbus Day, also known as Indigenous Peoples’ Day, is observed this year on Monday, October 12, 2020. Since it is a national holiday, you may be wondering if the banks will be open or closed in the United States on that day.
According to The Federal Reserve, Columbus Day is one of 10 bank holidays in the US for which their banks are closed to give employees the day off. American National Bank‘s 2020 schedule indicates that while the Federal Reserve is closed on October 12, the American National Bank will remain open on Columbus Day. TD Bank will also be open on Columbus Day.
According to GoBankingRates.com, the banks that will be closed on Monday, October 12, in observance of the holiday, include Amarillo National Bank, Ameris Bank, Bank of America, Bank of the West, BBVA, BB&T, Eastern Bank, First Citizens Bank, First Horizon Bank, HSBC, M&T Bank, Peoples Bank, PNC Bank, Regions, Santander Bank, SunTrust, Synovus, Union Bank, USAA, and Wells Fargo. Banks.org indicates that Chase observes Columbus Day as a bank holiday and will be closed, as well. These banks should be expected to reopen on Tuesday, October 13, under regular hours of operation.
The Stock Market & NASDAQ Will Remain Open on Columbus Day
In addition to several banks across the country, the Stock Market will also remain open through the Columbus Day holiday. The New York Stock Exchange and NASDAQ NYSE Amex will not close on Monday, October 12, 2020.
In spite of the national holiday, other institutions that you should expect to remain open include FedEx, UPS, garbage removal, national parks, and state and county offices. The United States Postal Service is closed on the holiday, as is the DMV and Social Security offices.
Columbus Day is one of 10 federal holidays; the other 9 are New Year’s Day, Martin Luther King Jr. Day, Washington’s Birthday, Memorial Day, Independence Day, Labor Day, Veterans Day, Thanksgiving Day, and Christmas Day.
15 States in the US Celebrate Indigenous Peoples’ Day Instead of Columbus Day
While Columbus Day is still considered a national holiday, many states and cities across the country do not longer recognize it as a day off from work or school. In fact, this year a number of states have replaced Columbus Day with another holiday observance.
According to Good Housekeeping, 14 states plus the District of Columbia have chosen to observe Indigenous Peoples’ Day on October 12, instead of or in addition to Columbus Day (which began as a national holiday in 1972). Those states are Alabama, Alaska, Hawaii, Idaho, Maine, Michigan, Minnesota, New Mexico, North Carolina, Oklahoma, Oregon, South Dakota, Vermont, and Wisconsin. Many individual cities nationwide have adopted the holiday change as well.
The holiday is observed in honor of Indigenous People or Native Americans who were living on the land that would eventually become the United States, long before Christopher Columbus “discovered” it. It is both a recognition of the ancestral history of Native Americans (who make up about 2% of the US’s current total population) as the first inhabitants of America, but also a solemn acknowledgment of the devastation done to Native American people and culture at the hands of colonization.
Columbus Day, or Indigenous Peoples’ Day, always falls on a Monday. Here is when the holiday will be observed in years to come:
– 2021: Monday, October 11th, 2021
– 2022: Monday, October 10th, 2022
– 2023: Monday, October 9th, 2023
– 2024: Monday, October 14th, 2024
– 2025: Monday, October 13th, 2025
– 2026: Monday, October 12th, 2026
– 2027: Monday, October 11th, 2027
– 2028: Monday, October 9th, 2028
– 2029: Monday, October 8th, 2029
– 2030: Monday, October 14th, 2030
It is worth noting that Columbus Day/Indigenous Peoples’ Day falls on the same day as Canadian Thanksgiving. This year, Thanksgiving in the United States will be observed on Thursday, November 26, 2020.