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Crackdown on Meta Bank Casts a Shadow on NetSpend’s IPO January 15, 2021

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Crackdown on Meta Bank Casts a Shadow on NetSpend’s IPO

Federal banking regulators this thirty days cracked straight down on MetaBank, a significant card that is prepaid, an action that tossed into concern the pending initial general public providing of prepaid credit card system supervisor NetSpend Corp.

Austin, Texas-based NetSpend is planned to amount its long-planned IPO on Thursday, in accordance with reports regarding the monetary cables. But its ties that are close MetaBank caused rounds of conjecture about whether or not the IPO will in truth take place. A NetSpend representative claims he can’t comment.

On Tuesday, MetaBank’s moms and dad business, Storm Lake, Iowa-based Meta Financial Group Inc., reported into the Securities and Exchange Commission that work of Thrift Supervision had taken enforcement actions against MetaBank. (more…)

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