Home Business & Finance Goldman Sachs Issues Statements After Apple Card Controversy Regarding Sexism

Goldman Sachs Issues Statements After Apple Card Controversy Regarding Sexism

Goldman Sachs Issues Statements After Apple Card Controversy Regarding Sexism

Apple announced its Apple Card thanks to its collaboration with Goldman Sachs and MasterCard. Although the credit card promised attractive deals, it has gained significant amount of attention over last couple of days after the credit card was accused of sexism.

Earlier last week, David Heinemeier Hansson sent out a series of tweets accusing the Apple Card of sexism when determining creditworthiness. In the tweets, the tech entrepreneur claimed that although he had worse credit score than his wife’s, he was receiving 20 times more credits limit. Shortly afterwards, other users shared similar experiences over Twitter.

Eventually Linda Lacewell, the superintendent of the New York Department of Financial Services revealed that her department will probe into the complaints. She said, “Any algorithm, that intentionally or not results in discriminatory treatment of women or any other protected class of people violates New York law.”

Following the controversy, Goldman Sachs issued a statement claiming that gender or marital status does not factor in during the Apple Card application. The firm also revealed that in case the applicants are using accounts with lower credit limits that are under spouse’s primary account, it leads to lower credit limit. Furthermore, the company added that in case someone has received contentious credit limits, they can submit additional documents to reevaluate their creditworthiness. You can check out Goldman Sachs’ tweet below.

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