logo
Plus   Neg
Share
Email

NY Regulator Investigates Goldman Sachs' Apple Card For Alleged Gender Bias

The New York Department of Financial Services has opened an investigation into claims the Apple Card, which is administered by Goldman Sachs, offered different credit limits for men and women.

The investigation follows complaints - including from Apple's co-founder Steve Wozniak - that algorithms used to set limits might be inherently biased against women.

The tech entrepreneur David Heinmeier Hansson twitted that Apple Card offered him twenty times the credit limit as his wife, although they have shared assets and she has a higher credit score. Hansson also twitted that after reaching out to Apple in an attempt to rectify the situation, he was told credit limits are determined by an algorithm.

The New York Department of Financial Services said in a statement that it "will be conducting an investigation to determine whether New York law was violated and ensure all consumers are treated equally regardless of sex. Any algorithm that intentionally or not results in discriminatory treatment of women or any other protected class violates New York law."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Hongkong Sun Rise Trading Ltd. has recalled about 151,400 units of Kobalt Cordless Electric chainsaws and about 106,520 units of Kobalt Cordless Electric pole saws for possible laceration hazard, according to two separate statements issued by the U.S. Consumer Product Safety Commission. These include 1,400 chainsaws and 120 pole saws sold in Canada. Branded food company Hormel Foods Corp. (HRL) announced Friday that its Hormel Black Label Breakfast Food Truck will hit the road with free sample event of the popular brand's new Hormel Black Label Oven-Baked Egg Bites. The samples come in three variants - with Bacon, with Chorizo and with Bacon and... United Airlines has rolled out an interactive online "Map Search" feature for its customers in collaboration with search giant Google. The new feature is powered by Google Flight Search Enterprise Technology. United is claimed to be the first airline in the U.S. to add this feature. The new feature, available on United.com, allows customers to easily search, compare and purchase flight tickets.
Follow RTT