Austin-based NetSpend Holdings Inc. has postponed its $200 million-plus initial stock providing as a result of regulatory dilemmas relating to the main provider regarding the prepaid debit cards NetSpend areas.
NetSpend was indeed anticipated to expense the offering Thursday and begin shares that are selling the general public this morning.
Analysts had stated the providing will be well-received as a result of NetSpends position within the fast-growing marketplace for prepaid debit cards, by 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, therefore the Wall Street Journal.
NetSpend would not get back demands remark.
In a securities filing Thursday, NetSpend stated that MetaBank, a vital supplier, have been bought by federal regulators Wednesday to prevent a quick payday loan system and seek advance approval for almost any brand new or amended third-party agreements, including for prepaid cards. Any office of Thrift Supervision stated MetaBank had utilized misleading techniques when you look at the loan program that is payday. Continuar leyendo «Advantages of taking right out pay day loans in Baltimore»