Apple Card’s algorithm under investigation for sexist credit checks

Apple Card’s algorithm under investigation for sexist credit checks

4 years ago
Anonymous $xdcOWPpsb_

https://thenextweb.com/tech/2019/11/11/apple-cards-algorithm-under-investigation-for-sexist-credit-checks/

Last week, David Heinemeier Hansson, a software developer, took to Twitter after he and his wife applied for the Apple Card and compared their spending limits. Hansson clarified that his wife, Jamie Hansson, had a better credit than he did, yet her application for a credit line increase was denied.  

Hansson pointed out that the ‘sexist program’ gets even worse. In a screenshot posted to Twitter, he said even after his wife pays off an already low limit, the card won’t approve any new spending until the next billing period. After Hansson’s tweet went viral, the New York’s Department of Financial Services announced on Saturday that they’re launching an investigation into Goldman Sachs, the investment bank who provide the Apple Card, and the algorithm used by Apple Card to determine the “creditworthiness” of applicants.