NY regulator vows to investigate Apple Card for sex bias
NEW YORK (AP) — A New York regulator is investigating Goldman Sachs for possible sex discrimination in the way it sets credit limits.
The investigation follows a series of viral tweets by entrepreneur and web developer David Heinemeier Hansson about algorithms used for the Apple Card, which Goldman Sachs manages in partnership with Apple.
Hansson said the card offered him a credit limit 20 times greater than it gave to his wife, even though she has a higher credit score. He called the algorithm a sexist program.
A spokeswoman for the New York Department of Financial Services confirmed Saturday that the agency will investigate “and ensure all consumers are treated equally regardless of sex.”