After announcing the end of their debit rewards program earlier this month in response of the Fed’s debit interchange proposal, Chase Bank has now informed customers that they will be discontinuing their Disney Dream Reward Dollars program as well.
“Congress recently enacted a new law known as the Durbin Amendment that significantly impacts debit cards,” reads the sample letter from Chase. “As a result of this law, we will be changing our debit rewards program. After July 12, 2011 you will no longer earn Disney Dream Reward DollarsSM when you use your Disney Rewards Debit Card.”
Customers will also no longer be offered Disney Theme Park Perks or 10 percent off on certain purchases of Disney merchandise.
On the upside, the letter stated the annual fee for the card will be waived. The letter also added that customers can still receive Disney dollars through their Chase credit card.
The Huffington Post has more on Sen. Durbin’s reaction to Chase’s recent moves to save money in light of potential, new debit card regulations.
Analysis: Bernanke Says Fed Won’t Meet April Deadline on Interchange Rule
Durbin: Fed’s Debit Plan Does Not Need Further Study
Wells Fargo Ends Debit Rewards Program, Days after Chase
Rep. Westmoreland: “Perils of CFPB with Credit Czar Elizabeth Warren”
The Durbin Chickens Start Coming Home to Roost
Sen. Corker “Shocked” That Durbin Passed in Reform Bill
Bipartisan Senate Bill Filed to Delay Durbin and Study the Impact of Debit Regulation
JPMorgan on Durbin: Customers ‘May Be Pushed Out of the Banking System’
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More