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

Jennifer Bailey vice president of Apple Pay speaks about the Apple Card at the Steve Jobs Theater during an event to announce new products in Cupertino Calif

Goldman Sachs distributes large amounts of money to Apple Card applicants, but the financial services company might need to take another look at its algorithm.

A spokesperson for the NYDFS said "the department will be conducting an investigation to determine whether NY law was violated and ensure all consumers are treated equally regardless of sex".

Rhodes explained that regulators drew attention to this issue due to a series of posts made over the past few days on social networks by entrepreneur David Heinmeier Hanson, who specialises in technology. Yet Apple's black box algorithm thinks I deserve 20x the credit limit she does.

"Our credit decisions are based on a customer's creditworthiness and not on factors like gender, race, age, sexual orientation or any other bias prohibited by law", the statement read.

In March, Apple started offering the Apple Card, issued by banking giant Goldman Sachs. It became available in the USA in August. Goldman Sachs today responded to the controversy, maintaining that "factors like gender" are never used in credit decisions and explaining how members of a family could receive very different credit decisions. Now the regulator wants to check if Apple Card's algorithms on credit limits violate NY anti-discrimination laws, the deputy superintendent and special counsel at the NYDFS wrote on Saturday.

Cincinnati Bengals' AJ Green suffers setback, out indefinitely
In recent weeks, he started to go through individual drills and was working toward being a full participant at practice. That's when you gotta back again off". "If that comes to a point where I can't play, that's what's supposed to happen".

The firestorm kicked off late last week when Ruby on Rails creator David Heinemeier Hansson indicated on Twitter that his ‌Apple Card‌ credit limit was twenty times that offered to his wife, even though the couple has been married for many years, file joint tax returns, and live in a community property state where all income and assets acquired while married are considered jointly owned. Among those surprised at the discrepancy is Steve Wozniak who reported that he was offered ten times the limit of his wife.

The iPhone maker markets Apple Card on its website as a "new kind of credit card, created by Apple, not a bank".

When Apple Card finally raised her credit limit without addressing the scoring system, he tweeted, it was essentially trying to "bribe one loud mouth on Twitter, then we don't have to actually examine our faulty faith in THE ALGORITHM". "It's big tech in 2019", said Wozniak. This wasn't a satisfactory explanation for Hansson, who noted that Sachs increased the credit card limit after he put the company on blast on social media.

As with any other individual credit card, your application is evaluated independently. He said that didn't make up for the flawed algorithm used by Apple Card.

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