Goldman Sachs re-evaluates credit lines after Apple Card sexism claims

Nov. 12 (UPI) -- Wall Street giant Goldman Sachs says it will look into multiple claims that it behaved in a sexist manner by issuing higher credit limits for male holders of the new Apple Card, than it did for women.

The banking institution acknowledged the claims late Monday after at least two reports that male cardholders were given greater limits than their wives, who they argue were just as deserving. A similar complaint was made by Apple co-founder and former executive Steve Wosniak.

The claims led the New York Department of Financial Services to investigate

Goldman Sachs, the bank backing the Apple Card, vowed to re-evaluate its decisions in issuing credit.

"We have not and never will make decisions based on factors like gender," Goldman Sachs CEO Carey Halio answered in a tweet Monday. "In fact, we do not know your gender or marital status during the Apple Card application process. We are committed to ensuring our credit decision process is fair.

"Together with a third party, we reviewed our credit decisioning process to guard against unintended biases and outcomes."

Some critics argue a biased algorithm is involved in the process.

"It matters for the woman struggling to start a business in a world that still seems to think women can't be as successful or creditworthy as men," cardholder and complainant David Hansson added in a statement. "It matters to the wife trying to get out of an abuse relationship. It matters to minorities harmed by institutional bias. It matters to so many. And so it matters to me."