Wall Street Watchdog Opens Probe Into Goldman Sachs and Apple Card Credit Limits

Apple Card displayed on an iPhone.

The New York Department of Financial Services opened an investigation into Goldman Sachs, following controversy over the differing credit limits allegedly offered to men and women. Claims from Ruby on Rails creator David Heinemeier Hansson were backed up by Steve Wozniak over the weekend. Both men said their wives were offered higher credit limits than their wives were (via Bloomberg News).

Apple Card Algorithm Accused of Being Sexist

On Friday, a spokesman for Linda Lacewell, the superintendent of the New York Department of Financial Services confirmed:

The department 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 of people violates New York law.

After Mr. Heinemeier Hansson’s Apple Card tweets went viral Mr. Wozniak joined the conversation. He said he got ten times the limit than his wife. This is despite the fact that the couple has no separate bank or credit card accounts or any separate assets, according to the Apple co-founder.

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