Federal banking regulators this thirty days cracked straight down on MetaBank, an important prepaid credit card issuer, an action that tossed into concern the pending initial general public offering of prepaid credit card system manager NetSpend Corp.

Austin, Texas-based NetSpend is planned to rate its long-planned IPO on Thursday, in accordance with reports from the monetary 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 moms and dad business, Storm Lake, Iowa-based Meta Financial Group Inc., reported to your 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 brand new loans under its iAdvance item at the time of Wednesday, plus it put settings on its company of issuing loans prior to clients’ receipt of income income income tax refunds, alleged tax-refund expectation loans. Crackdown on MetaBank Casts a Shadow on NetSpend’s IPO Okumaya devam edin