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Apple Card is facing a formal investigation by Wall Street regulators over gender discrimination allegations made in a viral tweet

“A viral tweet thread has prompted a formal investigation into alleged gender discrimination in the Apple Card’s credit limit algorithm” writes Finanzen Net Gmbh for businessinsider.com. In response, a Wall Street regulator is formally launching an investigation in Goldman Sachs Group Inc.’s algorithmic practices around the Apple Card, Bloomberg reported.Hannson said on Twitter that consumers deserve more insight into the credit limit process, and companies like Goldman should delineate its methodologies.”Any algorithm, that intentionally or not results in discriminatory treatment of women or any other protected class of people violates New York law.”. Apple’s new credit card, which operates almost entirely from the iPhone’s Wallet app, officially launched in September to significant fanfare.
 
Source: businessinsider.com



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