Goldman Sachs Bank USA

The New York Department of Financial Services released a report on its investigation into the Apple Card, issued by Goldman Sachs Bank USA. The investigation was prompted by public complaints alleging gender-based discrimination in credit limit decisions. The NYDFS report examined the underwriting algorithms and processes used by Goldman Sachs for the Apple Card product. While this is a report rather than a formal enforcement action, it represents significant regulatory scrutiny of a bank-fintech partnership where Goldman Sachs served as the issuing bank for Apple's consumer credit product. The findings and recommendations from this report are relevant to BaaS arrangements where banks rely on algorithmic underwriting in partnership with technology companies.

Verified from source: The URL confirms this is the NYDFS report on the Apple Card investigation published in March 2021. The page content is a raw PDF binary stream and cannot be read as text, but the URL path '/reports_and_publications/202103_report_apple_card_investigation' substantively confirms the report's existence and date.