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NetSpend stock offering delayed
Austin-based NetSpend Holdings Inc. has postponed its $200 million-plus stock that is initial because of regulatory problems regarding the primary provider in connection with prepaid debit cards NetSpend areas.
NetSpend ended up being very likely to cost the providing Thursday and start stocks which can be attempting to sell the typical public this early early morning hours.
Analysts had stated the delivering might be well-received as a consequence of NetSpends position inside the fast-growing market for prepaid debit cards, through which it truly is a provider that is leading.
Even so the providing is actually postponed until a weeks that are few relative to IPOhome.com, which tracks industry for initial offerings, plus the Wall Street Journal.
NetSpend will never get straight back requires remark.
In a securities filing Thursday, NetSpend reported that MetaBank, an integrated supplier, was at reality bought by federal regulators Wednesday to stop a fast cash advance system and look for advance approval for every brand-new or amended third-party agreements, including for prepaid cards. Any workplace of Thrift Supervision reported MetaBank had used misleading techniques within the mortgage system this is certainly payday.
MetaBank, located in Storm Lake, Iowa, provides 71 percent linked to the prepaid cards that NetSpend distributes nationwide through grocery, check-cashing stores along with other outlets. Continue reading