Most industry watchers predicted that the Fed would file an appeal, the announcement by Judge Leon states that regardless of an appeal the Fed must come up with how they will rewrite the rules in the next seven days.
Most surprisingly, Judge Leon indicated that merchants may get reimbursed for fees paid between now and when the original ruling was implemented. This is significant news for all parties involved.
As our previous blogs demonstrated there is a lot at stake for issuers, retailers and offers new opportunities for billers.
We will continue to wait one week for the next announcement on this.