Federal banking regulators this thirty days cracked straight straight straight down on MetaBank, an important card that is prepaid, an action that tossed into concern the pending initial general general general public providing of prepaid credit card system supervisor NetSpend Corp.
Austin, Texas-based NetSpend is scheduled to rate its long-planned IPO on Thursday, relating to reports regarding the economic cables. But its close ties to MetaBank caused rounds of conjecture about whether or not the IPO will in truth take place. A NetSpend representative states he can’t comment.
On Tuesday, MetaBank’s parent business, Storm Lake, Iowa-based Meta Financial Group Inc., reported into the Securities and Exchange Commission that any office of Thrift Supervision had taken enforcement actions against MetaBank. The OTS banned MetaBank from issuing any brand brand new loans under its iAdvance item at the time of Wednesday, and in addition it put settings on its company of issuing loans prior to clients’ receipt of income tax refunds, alleged tax-refund anticipation loans. 続きを読む Crackdown on Meta Bank Casts a Shadow on NetSpend’s IPO