Black Friday is the biggest shopping day of the year that occurs on the first Friday after Thanksgiving Day when banks are closed.
Thanksgiving Day is observed on the fourth Thursday of November. In 2020, the fourth day Thursday of November falls on November 26, 2020, and Black Friday falls on November 27, 2020.
Although Thanksgiving Day is a federal holiday, Black Friday is not. So banks have more discretion on whether or not to be open on Black Friday.
Most banks will be open on Black Friday, November 27, 2020, including Ally Bank, Bank of America, Capital One, Chase Bank, CitiBank, Fifth Third Bank, HSBC, Huntington National Bank, PNC Bank, Regions Banks, SunTrust Bank, TD Bank, and Wells Fargo.
Americans will have to wait a little longer to shop for Black Friday sales, deals, and doorbusters this year because the date of the Thanksgiving holiday affects the date of Black Friday.
The U.S. Congress passed a law setting the date of the Thanksgiving federal holiday permanently as the fourth Thursday in November.
Thanksgiving is late this year because the fourth Thursday in November fell on the 26th, a later possible date for the fourth Thursday which means that Black Friday also fell on a later possible date.