It is likely, I should call it the Great American Protestant Fallacy, but I am not as in touch with Protestants from other countries. Anyhow, this great fallacy is the insistance on individual interpretation. This is a false teaching. Interpretation should never be done in isolation of the Church Militant. The scriptures were not given for that purpose and in no place do you find that interpretation was done on an individual level in the historical accounts in Scripture. They always involved the rest of the church, hence the first Jerusalem council. Individual study and understanding is important and to be commended, but interpretation should always be informed and tempered by the church.