Federal judge gave preliminary approval to a settlement for homeowners who said that Citibank reduced their credit by using an automated valuation program

SAN FRANCISCO (CN) – A federal judge gave preliminary approval to a settlement for home owners who said that Citibank reduced their credit by using an automated valuation program.
Citibank faced a slew of claims over its automated valuation models in 2009. In one complaint, lead plaintiff David Levin claimed that his home value did not actually decrease enough for Citibank to reduce his credit limit. He alleged violations of the Truth-in-Lending Act and breach of contract.
Levin is one of six plaintiffs named as a class representative in the Tuesday order granting preliminary settlement approval.

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