In a letter to The Revenue Resource Group which created the card, lawyers for the Kardashians said they were terminating the agreement after it was brought to their attention that the card could violate consumer protection laws.
Connecticut’s attorney general wrote a letter to the debit card company last week, warning he planned on investigating if the card did violate state laws or the Dodd-Frank Act, a federal law implemented to protect consumers from abuse by the financial services industry.
The prepaid debit card, which sported a picture of Kim, Kourtney and Khloe on the front, cost nearly $100 in fees for 12 months, in addition to $1.50 ATM fees.
This is called, um, protecting your brand. Counsel for the Kardashians wrote:
“The Kardashians have worked extremely long and hard to create a positive public persona that appeals to everyone, particularly young adults. They have been successful in doing so because they are recognized as honest, ethical, and fun-loving individuals who are kind and caring to others.”
To which you might add “easily duped when someone waves a stack of cash at them.” (Like I have any room to talk.)
“Unfortunately, the negative spotlight turned on the Kardashians as a result of the Attorney General’s comments and actions threatens everything for which they have worked.”
Expect the unloaded, valueless cards to show up on eBay, disguised as collectible pop ephemera.