Goldman Sachs cleared of Apple Card discrimination claims

Goldman Sachs did not break any fair lending laws, an investigation into discriminatory allegations against the Apple Card underwriter reveals, but a regulator adds those same rules need to be strengthened and modernized.

In 2019, Goldman Sachs was accused of discriminatory behavior, where some Apple Card customers claimed they received longer lines of credit while others did not. The allegations claimed some of the discrepancies were gender-based, but Goldman Sachs insisted they were based on creditworthiness.The New York State Department of Financial Services issued a report on an investigation into the matter regarding Apple Card. It summarized an investigation that reviewed several thousand pages of records, interviews with witnesses and applicants, and analysis of approximately 400,000 New York State Apple Card applications, and did not find any evidence of unlawful discrimination under fair lending law.

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