Bill
Bill > HJRes50
US HJRes50
US HJRes50Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the National Credit Union Administration relating to "Quality Control Standards for Automated Valuation Models".
summary
Introduced
02/12/2025
02/12/2025
In Committee
02/12/2025
02/12/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the National Credit Union Administration relating to "Quality Control Standards for Automated Valuation Models".
AI Summary
This resolution formally disapproves a rule issued by the National Credit Union Administration (NCUA) regarding "Quality Control Standards for Automated Valuation Models" (published in the Federal Register on August 7, 2024). By passing this resolution, Congress would nullify the NCUA's rule, preventing it from being implemented or having any legal standing. Automated Valuation Models (AVMs) are computer-driven tools used to estimate the value of real estate, and this resolution suggests that Congress finds the NCUA's proposed quality control standards for these models unacceptable. The resolution relies on Chapter 8 of Title 5 of the United States Code, which provides a mechanism for Congress to review and potentially invalidate federal agency rules through a formal disapproval process.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Financial Services. (on 02/12/2025)
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/house-joint-resolution/50/all-info |
| BillText | https://www.congress.gov/119/bills/hjres50/BILLS-119hjres50ih.pdf |
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