Attorney General Richard Blumenthal is keeping up with the Kardashians.
Blumenthal announced Monday that an attorney for the Kardashians - known around the country for their reality show - had announced the family was dropping its association with a prepaid debit card that Blumenthal had criticized as being appealing to "financially unsophisticated young adults'' who could end up paying high fees.
"I am cautiously pleased that the Kardashians are terminating ties to the Kardashian Kard -- a prepaid debit card loaded with predatory fees," Blumenthal said in a statement. "A larger lesson -- common to other prepaid debit cards -- is that targeting young adults with predatory card terms and conditions may bear close scrutiny and caution.''
Blumenthal added, "Keeping up with the Kardashians is impossible with this card, where consumers lose money before they use money. Even before consumers spend a dime, the Kardashian Kard fees swallow the card's value. The card is filled with gotcha fees and charges, such as $99.95 annual fees, $7.95 monthly fees (after the first year), ATM withdrawal fees, bill pay fees, loading fees -- and even charges for talking to a live operator at their service center and a card cancellation fee.''
"The Kardashians,'' Blumenthal said, "perhaps recognize that fans will be fuming over these money-eating cards. My office remains concerned until University National Bank and MasterCard officially agree to stop selling these cards -- with or without the Kardashian name."