Your daily dose of financial news The Brief – 5.18.16

Robins Kaplan LLP

Lending Club week continues here on the Brief, where the Deal Professor tries to take the good (disrupting the traditional banking system and opening up new paths of credit for consumers) with the bad (yet another billion-dollar-valued start-up now fighting for its life) – NYTimes

There’s the small matter of this stock-drop class action, too – Law360

A strange mix of improving US economic data and falling overseas interest rates is wreaking havoc on the US bond market, sending the U.S. yield curve (the gap between short-term and long-term interest rates) to its flattest reading since late 2007 –  WSJ

After “months of criticism” over the sales of loans previously guaranteed by the government, HUD has announced that it will soon issue a new set of rules governing such sales aimed at aiding distressed homeowners (rather than the PE firms and hedge funds who critics argue have benefited most under the current system) – NYTimes

A Bank of America managing director has accused Bana of “misleading trading clients” by allegedly front-running trades for certain clients and withholding information from others. The executive, who is female, has also accused her employer of gender discrimination and whistleblower retaliation – WSJ and Bloomberg and Law360

Pandora—facing stiff competition in the streaming music realm, smarting after a $450 million acquisition of Ticketfly hasn’t worked out as planned, and reeling from the March departure of CEO Brian McAndrews—is reportedly considering putting itself up for sale – NYTimes

The Fed’s April meeting minutes are due out today.  Here are your obligatory 5 Things to Watch in them – WSJ

Days after the Swift payment system admitted to further breaches beyond the Bangladesh central bank, JPMorgan has limited employee access to the platform in an effort to improve internal security measures – WSJ

Not content to take a back seat to Amazon’s Echo or Apple’s Siri, for that matter, Google will unveil Google Home at its annual developers’ conference—a voice-activated device meant to bring a little taste of e-butlering to your home – NYTimes

One of the original bricks is back (if in licensed name only) – Bloomberg

Road [lights]? Where we’re going, we don’t need road [lights] – Huffington Post

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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