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Monday, November 11, 2019 7:39:14 AM
By: TheStreet | November 11, 2019
Goldman Sachs and Apple criticized over possible sex bias with Apple Card.
The New York Department of Financial Services will investigate Goldman Sachs (GS - Get Report) for possible sex discrimination in the way it sets credit limits.
The investigation follows a series of viral tweets by entrepreneur and web developer David Heinemeier Hansson about algorithms used for the Apple Card, which Goldman Sachs manages in partnership with Apple (AAPL - Get Report) .
Goldman Sachs denied wrongdoing, according to the Associated Press.
Hansson said the card offered him a credit limit 20 times greater than it gave to his wife, even though she has a higher credit score. He called the algorithm a sexist program.
Hansson's complaint was followed by a supporting tweet from Apple co-founder Wozniak, who blamed both the bank and Apple for the alleged unfairness.
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