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NetSpend stock offering delayed

Austin-based NetSpend Holdings Inc. has postponed its $200 million-plus stock that is initial as a consequence of regulatory problems regarding the primary provider linked to the prepaid debit cards NetSpend areas.

NetSpend have already been more likely to cost the supplying Thursday and start providing shares into the public this early morning.

Analysts had stated the delivering might be well-received as a result of NetSpends position once you go through the fast-growing market for prepaid debit cards, which is why it is a provider this is certainly leading.

But the delivering is postponed until in a couple of days, according to IPOhome , which tracks the market for initial offerings, as the Wall Street Journal.

NetSpend will never get straight straight back requires remark.

A key supplier, was indeed purchased by federal regulators Wednesday to prevent a quick payday loan system and look for advance approval for almost any brand new or amended third-party agreements, including for prepaid cards in a securities filing Thursday, NetSpend stated that MetaBank. Any workplace of Thrift Supervision claimed MetaBank had used misleading strategies into the bucks advance system.

MetaBank, located in Storm Lake, Iowa, provides 71 percent for this cards being prepaid NetSpend distributes nationwide through grocery, check-cashing shops and also other outlets. 続きを読む