Questions and Answers

This rule applies regardless of whether you are open on Saturdays or not. For rescission purposes only, Saturdays are business days except when the Saturday is a federal legal holiday. 

The rationale for the rule may be this: The consumer benefits from a precise definition of “business day” that does not require the consumer to know whether the creditor is open for business. In other words, if whether a day is a business day depended on whether the creditor was open for business, it would be somewhat more difficult for the consumer to accurately calculate the end of the rescission period because the consumer would have to know whether the creditor is open for business on that Saturday.