On December 31, millions of people will get together to welcome the new year and say goodbye to the old one. A lot of Americans will stay home today to spend time with their families since it is the last day of the year.
But what about private businesses like the Bank of America? Are they also going to close? Because many customers want to know more about bank hours, we are going to give you the most important information you need to know for this holiday.
New Year’s Day is one of the eleven federal holidays in the US. This is because it is such an important holiday. On this holiday, government buildings and other public places will be closed.
Bank of America and Wells Fargo just confirmed they will close their offices
Only government offices are required by law to be closed on federal holidays. In spite of this, most banks also choose to close, aligning their hours with the Federal Reserve’s holiday schedule. This means that all the big banks will be closed on January 1, 2025.
This includes Citi, Wells Fargo, and Bank of America. Banks will be open as usual on Tuesday, December 31, New Year’s Eve, but most of them will likely close early.
PNC, a financial services company, said that most of its branches would be closed by 4:00 p.m. local time. ATMs and mobile banking will still work normally on both days, which is good news.
People can still use their phones to conveniently do important things like paying bills and sending money to others. On Thursday, January 2, 2025, they will be open for business as usual. Call the credit union where you bank to find out what hours they are today.
Will UPS and FedEx be open during this holiday?
Only Air and International Air packages that were supposed to be delivered will be delivered by UPS on December 26, New Year’s Eve. Items sent with UPS Next Day Air that were picked up today will be delivered on January 2, the day after the new year.
On January 1, UPS Critical Delivery service will be available, but UPS will not be picking up or delivering packages.
The FedEx website says that pickup and delivery services will be available today, but some locations may close early. Today, FedEx Express and Freight will have different hours of operation. However, FedEx Express, Ground, and Home Delivery will still run as usual.
Bank of America and Citigroup will exit the climate change banking alliance
Two U.S. banks, Citigroup and Bank of America, said on Tuesday that they are leaving the Net-Zero Banking Alliance (NZBA). The NZBA is a worldwide group of banks that have agreed to cut greenhouse gas emissions.
Along with Goldman Sachs and Wells Fargo, they are the third group to leave the coalition this month. After being criticized for having ties to the fossil fuel industry, financial firms have worked to make net-zero criteria a bigger part of how they do business.
Some of their goals have been lowered, though, so as not to upset Republican lawmakers who do not want to limit funding for fossil fuels. Citi and Bank of America said they were making progress toward their net-zero goals when they told the NZBA they were leaving. Through its members’ loans and investments, the NZBA wants to get rid of all net carbon emissions by 2050.
Also, last month, ten Republican-led states, including Texas, sued BlackRock, Vanguard, and State Street, saying that the big asset managers had broken antitrust laws by being climate activists in a way that cut coal production and made energy more expensive.
Even though Bank of America and Citigroup have done a lot to cut down on carbon emissions, this new move puts them on the same level as Republican lawmakers and shifts the focus from net zero goals to economic corners.
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