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posted by martyb on Friday November 15 2019, @06:13AM   Printer-friendly
from the very-interesting dept.

A few days ago, Jamie Heinemeier Hansson went public with the observation that Apple Card gives better interest rates to husbands than to wives. Several sites have since picked up the story and now it has caught the attention of the US Senate.

I care about transparency and fairness. It's why I was deeply annoyed to be told by AppleCard representatives, "It's just the algorithm," and "It's just your credit score." I have had credit in the US far longer than David. I have never had a single late payment. I do not have any debts. David and I share all financial accounts, and my very good credit score is higher than David's. I had a career and was successful prior to meeting David, and while I am now a mother of three children — a "homemaker" is what I am forced to call myself on tax returns — I am still a millionaire who contributes greatly to my household and pays off credit in full each month. But AppleCard representatives did not want to hear any of this. I was given no explanation. No way to make my case.

From Gizmodo: Now a Senator Is Investigating the Sexist Apple Card Debacle

Wyden has lately taken up the bailiwick in fighting algorithmic bias. In April, he and Senator Corey Booker introduced the Algorithmic Accountability Act, which would obligate companies to assess their decision-making systems and training data "for impacts on accuracy, fairness, bias, discrimination, privacy and security." The bill has yet to move forward.

Earlier on SN:
Maybe Don't Keep Your Apple Card in a Leather Wallet, Apple Warns (2019)
Apple Unveils... a Titanium Credit Card (2019)


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  • (Score: 0) by Anonymous Coward on Friday November 15 2019, @03:15PM

    by Anonymous Coward on Friday November 15 2019, @03:15PM (#920695)

    I am also a millionaire, but I understand that creditors (and Apple is just the face here, the real creditor is someone else) have arbitrary and capricious rules on how they will extend it. I don't recall net worth ever being a field on an application.
    Jamie, you are fortunate not to need credit. Since creditors are still free to choose what to do with their money, you can deny them your business. Credit scoring will trend to cargo cult among all banks, but you could get a card through your local bank, who may give you a fatter line because they care about your relationship.
    "Algorithmic accountability act"? If congress passes something like this to force creditors to make bad lending decisions for the optics, they will, at the cost of everyone else.