NetSpend Postpones IPO

by Mercator Advisory Group 0

NetSpend Holdings Inc., a prepaid card provider based in Houston, Texas, has postponed its initial public offering because of the regulatory troubles faced by one of its issuing banks. The Office of Thrift Supervision said that Meta Financial Group, which issues 71% of NetSpend’s cards needed to stop making short-term loans and needed to seek approval for any new business partnerships.

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