U.S. Senator Elizabeth Warren (D-Mass.) (photo: SAUL LOEB/AFP/Getty Images)Democratic presidential candidate Elizabeth Warren fired back at Goldman Sachs’ response to allegations of gender bias against women applying for the popular Apple Card, suggesting the company needs to either reveal details about the credit-limit algorithm or pull it down.
Goldman, which oversees the banking decisions on the iPhone maker’s credit card, responded to allegations of discrimination against women by the Apple Card by suggesting that customers who received lower-than-expected credit limits to request a second look at the decision.
“Yeah, great. So let’s just tell every woman in America, ‘You might have been discriminated against, on an unknown algorithm, it’s on you to telephone Goldman Sachs and tell them to straighten it out,'” Warren told Bloomberg News. “Sorry guys, that’s not how it works.”
The Massachusetts senator, a frequent critic of Wall Street and a fierce consumer advocate, went on to say that while credit-limit decisions might be made by an algorithm, the system may still be flawed and ingrained with different biases.
MacDailyNews Take: Baseless conjecture on Twitter is not a valid criteria for publicly criticizing what you obviously do not understand.
You can’t wake a person who is pretending to be asleep. – Native American proverb
As we wrote earlier this week this has nothing to do with gender and everything to with Goldman only issuing individual accounts (which, of course, allowed family members to be assigned significantly different credit lines):
This is a case of Apple Card accounts being individual and independently evaluated. It has nothing whatsoever to do with gender or martial status or whatever nefarious claptrap the Twitterati concoct in order to work themselves up into a spittle-spewing lather, as they are so wont to do while cloistered inside their twisted outrage machine.
