Uncle Sam Follows the Kardashians into Prepaid Card Market

January 15th, 2011 - By TheEditor

(Washington Post) — Uncle Sam wants you to have a prepaid card, and he’s not the only one.¶ The Treasury Department is sending letters to 600,000 people this week encouraging them to sign up to receive their tax return on a new government-issued prepaid card as part of a pilot program to help those with limited access to bank accounts. ¶ On the other end of the spectrum, reality TV star Kim Kardashian’s namesake prepaid card failed just weeks after its launch. She and her sisters were shamed into bowing out because the card was riddled with high fees. ¶ Can these really be the same products?

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