HJRES 51 · 119th CongressIn Committeecongress.gov ↗

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Quality Control Standards for Automated Valuation Models".

What this bill does

AI plain-language summary

This joint resolution would cancel a rule put out by several federal financial agencies in August 2024. That rule required companies that create or sell mortgages to follow certain quality standards when using computer-based tools to estimate the value of homes. By canceling this rule, those quality standards would no longer be in effect.

Introduced

February 12, 2025

Policy Area

Finance and Financial Sector

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