The New York Daily News reported late yesterday that Kim, Khloe and Kourtney Kardashian have pulled their backing from the Kardashian Kard, a prepaid debit card aimed at teenagers, after government officials questioned its compliance with consumer protection laws.
The biggest warning sign about the card seems to have been its fees — $99 for the first year of membership and $7.95 for every month after that (to say nothing of $1.50 for every ATM visit) was too much for Connecticut attorney general Richard Blumenthal to go unnoticed. Blumenthal wrote in a letter to the company that created the card saying he’d investigate if the card violated state or federal laws.
In response, everyone’s favorite trio of Armenian sisters got the hell out of dodge — and fast. Page Six reports that lawyers for the Kardashian issued a termination notice last night, returning the sisters’ fee for backing the card and demanding that their names and likenesses be removed from it.
“The terms disclosed to Dash Dolls in no way suggested or implied that the Product might violate any law, rule or regulation,” the Kardashians’ lawyer wrote.
Of course, our question is, why would it need to? (Also, why in legal lingo are the sisters referred to as the Dash Dolls? But we digress.) Anyone with a basic understanding of, well, banks, could tell that such exorbitant fees for such a basic product offering had to be built upon the reputation and acclaim of the Kardashian sisters. And it’s that acclaim their lawywer, Dennis Roach, says they want to avoid damaging.
“The Kardashians have worked extremely long and hard to create a positive public persona that appeals to everyone, particularly young adults,” he wrote. “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.
“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.”
We say trying to trick kids and their parents into spending more money than necessary in the first place did enough threatening, but hey, that’s just us.
Kardashians cut ties with prepaid debit card after outroar from consumer advocates, politicians [The New York Daily News]
Kardashians quit backing teen debit card blasted for ‘outrageous’ fees [Page Six]