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Warren lashes out at Goldman over Apple Card bias claims: Bloomberg

“Potentially affected customers should not have to contact the bank to remedy the situation, Warren told Bloomberg” writes Midwest Communications Inc for 95kqds.com. (Reuters) – U.S. Senator Elizabeth Warren questioned Goldman Sachs’s response to allegations of bias in how the bank evaluates applicants for Apple Inc’s credit card, suggesting it should pull down the algorithm if it cannot be explained, Bloomberg reported on Wednesday.Goldman, which oversees the banking decisions on the iPhone maker’s credit card, has responded by asking aggrieved customers to request a second look at credit-limit decisions, according…

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Longtime diplomat Bill Taylor testifies that he has never seen a US president make foreign aid a condition of their personal or political interests

“One of the most important witnesses against President Donald Trump said Wednesday he had never before witnessed a US president use foreign aid as leverage for personal gain” writes Michelle Mark for businessinsider.com. In a powerful exchange with Goldman, Taylor acknowledged that the move appeared unprecedented to him. Source: businessinsider.com

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Goldman Sachs will let people appeal their Apple Card credit limit after allegations of sexist algorithms

“She added that anyone unhappy with their credit limit for the Apple Card can appeal, and Goldman Sachs may reevaluate their credit line” writes Isobel Asher Hamilton for businessinsider.com. Goldman Sachs has a message for angry Apple Card customers worried about alleged sexist credit limits: “We hear you.”. Goldman Sachs is the banking partner for Apple’s new credit card, Apple Card, and has been at the centre of a furore over whether its algorithms make sexist decisions about credit limits.Apple Card’s credit decision process is not aware of your marital…

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Goldman Sachs Plans Shift From Revenue Goal at First Investor Day

“NEW YORK (Reuters) – More than two years ago, Goldman Sachs Group Inc (GS.N) told investors it would find $5 billion in fresh annual revenue by 2020” writes Matt Scuffham for reuters.com. Goldman shares are trading at 0.9 times the value of its assets, among the lowest of the biggest U.S. banks.Goldman executives said a year ago that the bank was ahead of schedule on the $5 billion goal.Now, the bank may move away from that goal to focus on a wider range of metrics.The 57-year-old was a key architect…

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Goldman Sachs releases statement in response to ‘sexist’ Apple Card allegations

“In a tweet, Apple card issuing bank Goldman Sachs has now released a statement in denial of these allegations” writes Iphone Wireless Charger for 9to5mac.com. In its statement, Goldman Sachs says that Apple Card credit decisions are made on an individual basis and the credit line is individual to each applicant.Apple Card is advertised as “created by Apple, not a bank” so it would only seem fair for them to take direct responsibility of the matter with a formal statement. Source: 9to5mac.com

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Apple co-founder says Apple Card algorithm gave wife lower credit limit

“(Reuters) – Apple Inc co-founder Steve Wozniak joined in the online debate over accusations of gender discrimination by the algorithm behind the iPhone maker’s credit card, fuelling scrutiny of the newly launched Apple Card” writes Midwest Communications Inc for 95kqds.com. New York’s Department of Financial Services said it was beginning an inquiry into Goldman Sachs’ credit card practices.The criticism started on Thursday, after entrepreneur David Heinemeier Hansson railed against the Apple Card in a series of Twitter posts, saying it gave him 20 times the credit limit his wife received.”We…

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Wall Street regulator probes Goldman over allegations of sexist credit decisions at Apple Card

“The New York Department of Financial Services is launching an investigation into Goldman Sachs’ credit card practices after a tech entrepreneur accused the bank’s Apple Credit Card algorithm of discriminating against women when determining credit card limits” writes Emma Newburger for cnbc.com. “We have no separate bank or credit card accounts or any separate assets,” Wozniak tweeted.The tweet thread immediately gained traction online and received a comment from Apple co-founder Steve Wozniak, who alleged that Apple Card gave him 10 times the credit limit that his wife got. Source: cnbc.com

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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…

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Regulator investigating Goldman Sachs over potential gender bias in Apple Card approvals

“On Thursday, David Heinemeier Hansson took to Twitter to question why Apple Card gave him a credit limit 20 times higher than his wife” writes The Best Workout for 9to5mac.com. This investigation comes after a series of viral tweets last week alleged that gender discrimination was affecting the algorithms used to determine credit limits for Apple Card.Apple co-founder Steve Wozniak also joined in, saying that he got a credit limit 10 times higher than his wife, even though they share all of their assets.According to Hansson, he and his wife…

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