http://heavenlyplastics.com/91908-montair-lc-price.html Austin-based NetSpend Holdings Inc. has postponed its $200 million-plus initial stock providing due to regulatory issues concerning the main provider associated with prepaid debit cards NetSpend areas.
http://c3patriot.com/panic-disorder NetSpend was indeed likely to amount the providing Thursday and begin shares that are selling the general public this early morning.
Analysts had stated the providing will be well-received due to NetSpends position within the fast-growing marketplace for prepaid debit cards, for which it really is a provider that is leading.
Nevertheless the providing happens to be postponed until in a few days, in accordance with IPOhome.com, which tracks industry for initial offerings, and also the Wall Street Journal.
NetSpend would not return demands comment.
In a securities filing Thursday, NetSpend stated that MetaBank, a vital supplier, have been bought by federal regulators Wednesday to prevent an online payday loan system and seek advance approval for just about any brand new or amended third-party agreements, including for prepaid cards. Any office of Thrift Supervision stated MetaBank had utilized deceptive methods into the pay day loan system.
MetaBank, located in Storm Lake, Iowa, provides 71 % for the cards that are prepaid NetSpend distributes nationwide through grocery, check-cashing shops as well as other outlets. NetSpend has about 2.1 million active cards nationwide.
NetSpend said MetaBanks problems wont affect https://getbadcreditloan.com/payday-loans-pa/sinking-spring/ its operations or funds, however it stated that future actions that are regulatory MetaBank could force it discover another card provider.
The increasing loss of, or modification to, our relationships with MetaBank or our other issuing banking institutions could adversely influence our company, link between operations and position that is financial the filing stated.