A US financial regulator investigating the claims that Apple’s credit card is offering different credit limits for men and women. An investigation is opened for discrimination.
It started with tech entrepreneur David Heinemeier Hansson’s tweet about the Apple Credit Card, which is a joint enterprise between Apple, Mastercard, and Goldman Sachs. Hansson claims that his wife received a much smaller credit limit than he did even though their financial status is equal. After Hansson sharing information about his wife’s financial status, the situation has gone viral.
All about the algorithm
After users sharing their similar experiences, Apple co-founder Steve Wozniak also joined the discussion. He also claimed that he got a 10 times bigger credit limit than his wife, even though the couple is using the same bank and credit card accounts. Wozniak also points the finger at the algorithm.
The New York Department of Financial Services (NY DFS) started an investigation about the issue. Hansson and others who commented about the possible discrimination are pointing out that institutions may have anti-discrimination policies, but algorithms can discriminate inherently.
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