Referred to the House Committee on Financial Services.
This resolution uses the Congressional Review Act to nullify a recently issued federal rule from an executive agency. If enacted, the rule named in the resolution would have no force or effect, and the agency would be blocked from issuing a substantially similar rule in the future unless Congress passes a law permitting it. The CRA provides Congress a fast, one-time process to overturn a final agency rule and requires a joint resolution to become law.
Quality Control Standards for Automated Valuation Models (89 Fed. Reg. 64538 (August 7, 2024)).
Office of the Comptroller of the Currency (OCC)
Under the Congressional Review Act, disapproval resolutions follow expedited procedures in the Senate and can pass with a simple majority without a filibuster; they must be introduced within a limited time after the rule was submitted. As a joint resolution, it becomes effective only if enacted through the normal process including presentation to the President.
This joint resolution invokes the Congressional Review Act to disapprove the Office of the Comptroller of the Currency rule titled “Quality Control Standards for Automated Valuation Models” (89 Fed.
Reg. 64538).
If enacted, the resolution would nullify that OCC rule and prevent it from taking effect.
Content is narrow and administratively simple, aiding House prospects, but Senate hurdles and political opposition reduce overall chances.
Relative to its intended legislative type, this bill is a narrowly focused Congressional Review Act disapproval that effectively and succinctly accomplishes the procedural/legal act of nullifying a specific agency rule by citation.
Liberty vs. oversight: conservatives stress regulatory burden; liberals stress consumer protections.
These are examples from the analysis, not a ranked list of the most-affected groups.
Liberty vs. oversight: conservatives stress regulatory burden; liberals stress consumer protections.
Likely opposed.
Progressives would view the OCC rule as a consumer- and fairness-oriented safeguard for automated valuation models (AVMs).
Disapproving the rule removes a federal oversight tool meant to improve valuation accuracy and reduce bias.
Mixed/conditional.
Moderates will weigh consumer protection gains against compliance costs and implementation detail.
They would want clearer cost-benefit evidence and possible tailoring for smaller institutions.
Likely supportive.
Conservatives will view the resolution as a check on regulatory overreach that imposes costly mandates on banks and stifles fintech innovation.
The CRA approach is a conventional way to block rules deemed excessive.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Content is narrow and administratively simple, aiding House prospects, but Senate hurdles and political opposition reduce overall chances.
The bill has not accumulated any surfaced votes yet.
Liberty vs. oversight: conservatives stress regulatory burden; liberals stress consumer protections.
Content is narrow and administratively simple, aiding House prospects, but Senate hurdles and political opposition reduce overall chances.
Relative to its intended legislative type, this bill is a narrowly focused Congressional Review Act disapproval that effectively and succinctly accomplishes the procedural/legal act of nullifying a specific agency rule…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.