Introduced:
Feb 12, 2025
Policy Area:
Finance and Financial Sector
Congress.gov:
Bill Statistics
3
Actions
0
Cosponsors
1
Summaries
1
Subjects
1
Text Versions
Yes
Full Text
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Latest Action
Feb 12, 2025
Referred to the House Committee on Financial Services.
Summaries (1)
Introduced in House
- Feb 12, 2025
00
<p>This joint resolution nullifies the final rule issued by the Office of the Comptroller of the Currency, the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Consumer Financial Protection Bureau, and the Federal Housing Finance Agency titled <em>Quality Control Standards for Automated Valuation Models</em> and published on August 7, 2024. The rule requires the implementation of quality control standards for automated valuation models used by mortgage originators and secondary market issuers when determining the value of real estate securing a mortgage. </p>
Actions (3)
Referred to the House Committee on Financial Services.
Type: IntroReferral
| Source: House floor actions
| Code: H11100
Feb 12, 2025
Introduced in House
Type: IntroReferral
| Source: Library of Congress
| Code: Intro-H
Feb 12, 2025
Introduced in House
Type: IntroReferral
| Source: Library of Congress
| Code: 1000
Feb 12, 2025
Subjects (1)
Finance and Financial Sector
(Policy Area)
Full Bill Text
Length: 1,346 characters
Version: Introduced in House
Version Date: Feb 12, 2025
Last Updated: Nov 13, 2025 6:31 AM
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.J. Res. 50 Introduced in House
(IH) ]
<DOC>
119th CONGRESS
1st Session
H. J. RES. 50
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''.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 12, 2025
Mr. Clyde submitted the following joint resolution; which was referred
to the Committee on Financial Services
_______________________________________________________________________
JOINT RESOLUTION
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''.
Resolved by the Senate and House of Representatives of the United
States of America in Congress assembled, That Congress disapproves the
rule submitted by the National Credit Union Administration relating to
``Quality Control Standards for Automated Valuation Models'' (89 Fed.
Reg. 64538 (August 7, 2024)), and such rule shall have no force or
effect.
<all>
[From the U.S. Government Publishing Office]
[H.J. Res. 50 Introduced in House
(IH) ]
<DOC>
119th CONGRESS
1st Session
H. J. RES. 50
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''.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 12, 2025
Mr. Clyde submitted the following joint resolution; which was referred
to the Committee on Financial Services
_______________________________________________________________________
JOINT RESOLUTION
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''.
Resolved by the Senate and House of Representatives of the United
States of America in Congress assembled, That Congress disapproves the
rule submitted by the National Credit Union Administration relating to
``Quality Control Standards for Automated Valuation Models'' (89 Fed.
Reg. 64538 (August 7, 2024)), and such rule shall have no force or
effect.
<all>