wordpress blog stats
Connect with us

Hi, what are you looking for?

New York regulator orders probe into Goldman Sachs’ credit card practices over Apple Card and sexism

Apple Card
Apple Card

Prompted by a frustrated (and viral) Twitter thread about sexism underlying Apple Card's credit limit allowances, the New York State Department of Financial Services (NYSDFS) is opening a probe into Goldman Sachs’ credit card practices. The @AppleCard is such a fucking sexist program. My wife and I filed joint tax returns, live in a community-property state, and have been married for a long time. Yet Apple’s black box algorithm thinks I deserve 20x the credit limit she does. No appeals work. — DHH (@dhh) November 7, 2019 Apple Card is a joint venture between Apple and Goldman Sachs which was launched earlier this year. Sachs is responsible for all the credit decisions on the card. What happened? David Heinemeier Hansson, a Danish tech entrepreneur, on November 8, had tweeted his ire at how, despite having a worse credit score than his wife, he is allowed a 20X more credit limit than she is. Highlighting the problem of black boxed algorithms that replicate real world biases, he also pointed out that customer service couldn’t also do much in this case since "it's just the algorithm". She spoke to two Apple reps. Both very nice, courteous people representing an utterly broken and reprehensible system. The first person was like “I don’t know why, but I swear we’re not discriminating, IT’S JUST THE ALGORITHM”. I shit you not. “IT’S JUST THE ALGORITHM!”. — DHH (@dhh) November 8, 2019 6 different representatives across Apple, and Goldman Sachs have no visibility into this black boxed…

Please subscribe/login to read the full story.
Written By

Send me tips at aditi@medianama.com. Email for Signal/WhatsApp.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

News

RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.

News

Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...

News

The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ