Martin Luther King Day is a federal holiday, which means there’s no mail and certain finances are put on hold as well. While most banks are closed, a few choose to stay open, so it may be best to check with your local branches. Online banking and ATMs will, of course, remain open, though transactions such as transfers may not show up until the next day. U.S. stock and bond markets will be closed for the Martin Luther King Jr. holiday, but Market Watch reports that overseas markets will run as usual. The site also reports that the Securities Industry and Financial Markets Association recommends no trading in U.S. dollar-denominated bonds in the United States, the UK and Japan.
Saving Advice reports that whether or not banks are open today can be confusing because the day off work only applies to federal employees and private businesses. While most banks are closed, there are exceptions. However, just because one bank was open last year, does not mean this year’s holiday schedule is the same. For example, in previous years, TD Bank stated, “While Martin Luther King Jr. Day is a federal holiday and most banks close their doors for the day, not all do. TD Bank is one exception, and its branches stay open on Martin Luther King Jr. Day. Some banks located in other retail outlets, such as Walmart and grocery stores, may also remain open for the day.”
Last year, however, TD Bank’s holiday schedule reported that the bank would, indeed, be closed on MLK Day. Other holidays that TD Bank stays open for are Veterans Day, Columbus Day, and Presidents Day. Citibank, Wells Fargo, Chase, and Bank of America are closed on Martin Luther King Day.
In addition to banks being closed, schools are usually closed, along with libraries, and trash removal is halted. Most garbage disposal companies will not be running. For example, NYC.gov reports that their holiday schedule includes MLK Day and recommends that people put out their garbage after 4 p.m. on the evening of the holiday, for collection beginning the next day. For other communities, garbage removal may not occur until the next cycle day.
As for recycling schedules, this definitely depends on your county. However, many organizations are following the same guidelines. For example, Minneapolis MN reports that if your trash or recycling pickup falls on or just after a holiday when they are closed, pickup will be one day late. This means that collection will take place the following day. There is also no mail delivery on MLK Day.
Martin Luther King Jr. Day always falls on the third Monday of January each year and it is a federal holiday, which marks the birthday of Martin Luther King Jr. King’s actual birthday is January 15, 1929 and he was assassinated on April 4, 1968. He is famous as a Baptist minister and activist, who was a major leader in the Civil Rights Movement in our nation’s history. His most famous speech is his “I Have a Dream” speech, which he delivered at the 1963 March on Washington.