NetSpend stock offering delayed
Austin-based NetSpend Holdings Inc. has postponed its 200 million-plus stock that is initial due to regulatory dilemmas relating to the main provider associated with the prepaid debit cards NetSpend areas. NetSpend was anticipated to amount the providing Thursday and begin attempting to sell stocks to the general public this early morning. Analysts had said the offering could be well-received due to NetSpends position within the fast-growing marketplace for prepaid debit cards, for which it really is a leading provider. Nevertheless the providing is postponed until a few weeks, based on IPOhome.com, which tracks the marketplace for initial offerings, while the Wall Street Journal.
NetSpend didn’t get back demands comment.
A key supplier, had been ordered by federal regulators Wednesday to halt a payday loan program and seek advance approval for any new or amended third-party agreements, including for prepaid cards in a securities filing Thursday, NetSpend said that MetaBank. Continue reading Any office of Thrift Supervision stated MetaBank had utilized deceptive techniques into the loan program that is payday.