NEW YORK—Goldman Sachs has been handing out a lot of new credit lines for the Apple Card, regulatory filings show.
After a full roll-out of the card last quarter, credit lines the bank has extended to Apple customers totaled about $10 billion as of Sept. 30, Bloomberg reported.
“The credit card is part of Goldman's recent foray to turn its attention to Main Street consumers after more than a century of catering to large corporations and big investors. Its partner in the venture, Apple, has tried to minimize the investment bank's role as it markets the product with a tagline that reads: ‘A new kind of credit card. Created by Apple, not a bank,’” Bloomberg said.
As CUToday.info reported here, authorities are investigating allegations the algorithm used to approve Apple Cards and respective credit limits is biased against women.