Springleaf struggles after fast post-IPO run

There's been a lot of talk about the return of subprime/specialty finance (here and here, to name two), but Spingleaf Financial (LEAF -4.3%) a hot late-2013 IPO continues to struggle this year. Springleaf nearly went bust in the financial crisis, but is now back to profitability thanks to restructuring from Fortress Investment Group (which bought an 80% stake in 2010 and still owns 78% worth).

Sharp-eyed investment bankers have noticed the return of the segment, bringing forth cash settlement player JGWPT Holdings (JGW -0.5%) - which did go bankrupt four years ago - and Santander U.S.A. (SC -0.5%) in the months following Springleaf.

Coming in Q2: The spinoff of a GE unit making store credit cards for retailers.

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