INSUBCONTINENT EXCLUSIVE:
Image copyrightAPpleA US financial regulator has opened an investigation into claims Apple's credit card offered different credit limits for
men and women.It follows complaints - including from Apple's co-founder Steve Wozniak - that algorithms used to set limits might be
inherently biased against women.New York's Department of Financial Services (DFS) has contacted Goldman Sachs, which runs the Apple Card.Any
discrimination, intentional or not, "violates New York law", the DFS said.The Bloomberg news agency reported on Saturday that tech
entrepreneur David Heinemeier Hansson had complained that the Apple Card gave him 20 times the credit limit that his wife got.In a tweet, Mr
Hansson said the disparity was despite his wife having a better credit score
Later, Mr Wozniak, who founded Apple with Steve Jobs, tweeted that the same thing happened to him and his wife despite their having no
separate bank accounts or separate assets.Banks and other lenders are increasingly using machine-learning technology to cut costs and boost
But Mr Hansson, creator of the programming tool Ruby on Rails, said it highlights how algorithms, not just people, can discriminate
US healthcare giant UnitedHealth Group is being investigated over claims an algorithm favoured white patients over black patients.Mr Hansson
said in a tweet: "Apple Card is a sexist program
It does not matter what the intent of individual Apple reps are, it matters what THE ALGORITHM they've placed their complete faith in does
And what it does is discriminate."He said that as soon as he raised the issue his wife's credit limit was increased.The DFS said in a
statement that it "will be conducting an investigation to determine whether New York law was violated and ensure all consumers are treated
equally regardless of sex"."Any algorithm that intentionally or not results in discriminatory treatment of women or any other protected
class violates New York law."The TheIndianSubcontinent has contacted Goldman Sachs for comment.On Saturday, the investment bank told
Bloomberg: "Our credit decisions are based on a customer's creditworthiness and not on factors like gender, race, age, sexual orientation or
any other basis prohibited by law."The Apple Card, launched in August, is Goldman's first credit card
The Wall Street investment bank has been offering more products to consumers, including personal loans and savings accounts through its
Marcus online bank.The iPhone maker markets Apple Card on its website as a "new kind of credit card, created by Apple, not a bank".
