Future Finance
Apple Co-Founder Says Goldman’s Apple Card Algorithm Discriminates
- Steve Wozniak urges tougher regulation on credit algorithms
- Regulator opens probe after sexism was alleged in viral tweets
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Apple Inc. and Goldman Sachs Group Inc., two of the most recognizable companies in tech and finance, are caught up in a growing debate over whether lenders unintentionally discriminate when they use complex models to determine how Americans borrow money.
On Saturday, Bloomberg reported that a Wall Street regulator had opened a probe into Goldman’s credit card practices after a viral tweet from a tech entrepreneur alleged that the Apple Card’s algorithms discriminated against his wife.