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 (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 to the report “We are beginning to understand better that algorithms are only as good as the data that gets packed into them,” Warren added.”Goldman Sachs has not and will never make decisions based on factors such as gender, race, age, sexual orientation or any other legally prohibited factors when determining credit worthiness,” the bank told Reuters.

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