It’s a bank policy, not a governmental policy. If US banks wanted to, they could do it today. They don’t need an EO from anybody.
Such as they limit how many transfers per month you are allowed to make from savings to checking before you are assessed a fee. But you can make as many withdrawals from savings through an ATM with no fees. (USBank)
Banks are not private institutions. They are quasi-governmental institutions. That’s why they are closed on all the same days.