A New York regulator says it is investigating Goldman Sachs for possible gender discrimination in the way it sets credit limits for the Apple Card.A spokeswoman for the New York Department of Financial Services confirmed Saturday that the agency will investigate.
The agency is"troubled to learn of potential discriminatory treatment in regards to credit limit decisions reportedly made by an algorithm of Apple Card, issued by Goldman Sachs," said spokeswoman Sophia Kim. She said the department"will be conducting an investigation to determine whether New York law was violated and ensure all consumers are treated equally regardless of sex."
"Our credit decisions are based on a customer's creditworthiness and not on factors like gender, race, age, sexual orientation or any other basis prohibited by law," said Goldman Sachs spokesman Andrew Williams. He added that the bank could not comment on decisions about individual customers.
When Apple Card finally raised her credit limit without addressing the scoring system, he tweeted, it was essentially trying to"bribe one loud mouth on Twitter, then we don't have to actually examine our faulty faith in THE ALGORITHM."Apple introduced the Apple Card earlier this year in a partnership with Goldman Sachs.
"Simplicity, transparency and privacy are at the core of our consumer product development philosophy," said Goldman Sachs Chairman and CEO David M. Solomon.
New York State seems to be about as crazy as North Korea, but a little more to the left.
Marketing
No woman should be allowed to have a credit card in her own name. She needs a co signer, a husband, uncle or pastor.
We are killed and oppressed by the government and the forces outside the state Our rights were robbed and stolen , shut down the Internet and this is a restriction of freedoms so that we do not publish videos that killed us Save_the_Iraqi_people
Apple’s Defense: Siri is a female. Checkmate. ✅
Is there no end to BS like this?
the inquisition has targeted apple
Insurance companies have been doing this for decades.
'A NY regulator is investigating Goldman Sachs for sex discrimination in the way it sets credit limits. 'Hansson said the card offered him a credit limit 20 times greater than it gave his wife, even tho she has a higher credit score. He called the algorithm a sexist program.'
So how can Apple and GoldmanSachs clear their names if they can’t disclose the specifics of the couple’s financial profile? There are a ton of reasons including amount of credit used, score, credit history, etc that determine the amount of credit extended.
Apple should be investigated for false advertising. They state it’s “not a bank card”, yet your credit is checked after applying and Golman Sachs states whether you are approved for the card or not!
Boycott Apple
Just ask Wozniak.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: AP - 🏆 728. / 51 Read more »
Source: ABC - 🏆 471. / 51 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »