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Regulators Warn Banks on Algorithms

By Kevin Dugan
· · Source: Bloomberg

Washington regulators warned banks to be able to clearly explain algorithms that decide credit limits before they bring a product that relies on them to market, Bloomberg reported . The warning follows complaints of sexism directed at Goldman Sachs, the bank behind an Apple-branded credit card that granted lower credit limits to women than to men in the same or similar financial situations....

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JPMorgan, Goldman Order Software ‘Code Freezes’ Around Election
By Kevin McLaughlin · Oct. 29, 2020 12:42 PM PDT
JPMorgan, Goldman Order Software ‘Code Freezes’ Around Election

Top banks, including JPMorgan Chase and Goldman Sachs, are battening down their technology hatches for next week’s presidential election.

Around next Tuesday, the final day of voting, JPMorgan and Goldman will both halt software updates to the retail and investment banking systems their customers use to manage accounts, The Information has learned. It’s a precaution intended to ...

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