For those of you who have been involved in a training session with me, you know that I like to take compliance session attendees back to high school civics class by asking, what are the three branches of government? Because in compliance, we sometimes forget about the effect of the judicial branch on regulations given that we are too busy dealing with the other branches of government.
Last week, we felt the effect of the judicial branch when a federal judge issued a ruling on the interchange rules. There was a lot of media hype that followed. And now we are asking ourselves, what’s next? CUNA’s The Cheney Report has a nice article describing the reality of the ruling in plain English, although much of what we do now is wait and see. However, if you get bored while waiting and want to read the judge’s opinion, you can find it here.