Having a moment here so I want to ask, what will appear, a very basic question; for a residential rescindable transaction that closes on Friday, July 2nd (delivery of material disclosures and rescission notice), rescission would end 7/6 and funding occur on 7/7, correct?

The turmoil with Juneteenth and the Independence day Holiday falling on a Sunday, but being observed by many on the Monday, has me second and third guessing myself!

Thanks!

That is correct. The 5th is not a Federal holiday for rescission or other Regulation Z specific business day purposes.

No second-guessing is required. This may be the only part of Reg. Z where a rule is hard and fast, with no exceptions. For rescission purposes (open-end and closed-end credit), Section 1026.2(a)(6) defines a "business day" as "all calendar days except Sundays and the legal public holidays specified in 5 U.S.C. 6103(a)."

As recently amended, 5 U.S.C. 6103(a) declares the following to be legal public holidays:
New Year’s Day, January 1.
Birthday of Martin Luther King, Jr., the third Monday in January.
Washington’s Birthday, the third Monday in February.
Memorial Day, the last Monday in May.
Juneteenth National Independence Day, June 19.
Independence Day, July 4.
Labor Day, the first Monday in September.
Columbus Day, the second Monday in October.
Veterans Day, November 11.
Thanksgiving Day, the fourth Thursday in November.
Christmas Day, December 25.

Nowhere in 6103(a) is there any mention of rolling legal public holidays forward or back. You find the rules for observing federal holidays on alternate dates in 6103(b) -- which only applies to the working schedules of the federal workforce.

Thank you Randy and Richard, and I agree with you both, but I was letting myself get turned round on this!

I don't disagree with Randy or Richard. I will observe, though, that when the Fed tweaked comment 2(a)(6) to add the bit about July 4 falling on a Saturday, they missed the opportunity to make things really crystal clear by including an example of the 4th falling on Sunday.

Just for the record, I asked the CFPB it's opinion.

Here's what I wrote:
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Several years ago, the Board of Governors added clarifying language to its commentary on the "precise" definition of "business day" as it applies to the right of rescission and several other Regulation Z provisions, by noting that when "one of [the four—now five—specific-date] holidays (July 4, for example) falls on a Saturday, Federal offices and other entities might observe the holiday on the preceding Friday (July 3). In cases where the more precise rule applies, the observed holiday (in the example, July 3) is a business day."
Of course, those dates fall on Sunday as often as they fall on Saturday, but the comment says nothing about what happens when, for example, July 4 falls on a Sunday (as it does in 2021).
So my question is --
Is the comment deliberately worded so as to mean that the day of observance is a business day only when the specific-date holiday falls on Saturday, just as the comment reads, or should it be interpreted to mean that, when the designated holiday date falls on Sunday but the holiday is observed on Monday, Monday is to be treated as a business day?
OBSERVATION:
If the former (Sunday occurrences treated differently), the Bureau could clarify by adding a sentence stating, "However, when one of the specific-date holiday dates falls on Sunday and is observed on the following Monday, Monday is not a business day in cases where the more precise rule applies."
If the latter, the Fed Board missed a great opportunity to clarify the rule when it ignored the fact that the specific-date holidays fall on Sundays, too. And I think it would be a great idea for the Bureau to seize the chance to clarify the issue by adding a sentence that applies the same logic to Sunday occurrences observed on Monday by stating that if the designated date, for example, July 4, occurs on Sunday and federal offices and others might observe the holiday on the following Monday (July 5), when the more precise rule applies, the observed holiday (July 5) is a business day.

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Amazingly (but probably because the Fourth is almost upon us, a Bureau rep called me yesterday while I was looking for a parking place at Trader Joe's in Hyannis (and she waited patiently until I safely pulled in and stopped). She confirmed that Monday, 7/5/2021, is a business day for the purposes of the right to rescind and other Reg Z provisions listed in comment 2(a)(6)-2. She agreed that the Fed could have said as much when it modified that comment several years ago.

I thanked her for the prompt call-back, then suggested that the Bureau will need to update that comment (and the sentence in the regulation itself listing the holidays) to add Juneteenth, and that would be the perfect opportunity to add clarity to the comment (and "cancel" the need to debate the issue each time one of the holidays falls on Sunday) by adding a few words like "When one of the fixed-date holidays falls on a Sunday but is observed on the following Monday, that Monday is a business day in cases where the more precise rule applies." She thought that might be a good idea, and will add it to the list of things to do in connection with including Juneteenth in the regulation's holiday list.

@Trying_to_comply Check out the free rescission date calculator to assist. Note the 2020-2021 v2 was just updated for Juneteenth. https://www.bankersonline.com/tools/42545