Referred to the House Committee on Financial Services.
This joint resolution uses the Congressional Review Act to disapprove and nullify the Federal Deposit Insurance Corporation rule titled “Quality Control Standards for Automated Valuation Models” (89 Fed. Reg. 64538 (Aug 7, 2024)).
Progressives emphasize consumer protection and bias prevention.
Narrow, procedural CRA measure is easier than sweeping bills, but passage requires a House majority and political will to prioritize it.
This joint resolution uses the Congressional Review Act to disapprove and nullify the Federal Deposit Insurance Corporation rule titled “Quality Control Standards for Automated Valuation Models” (89 Fed.
Reg. 64538 (Aug 7, 2024)).
If enacted, the rule would have no force or effect.
Content is narrow and procedurally straightforward, increasing plausibility, but final outcome hinges on chamber majorities and executive approval or veto risk.
How solid the drafting looks.
Progressives emphasize consumer protection and bias prevention.
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives emphasize consumer protection and bias prevention.
Likely opposed; views the FDIC rule as a consumer- and fairness-oriented safeguard for automated valuation models (AVMs).
Disapproval is seen as removing protections against biased or inaccurate valuations.
Some may accept congressional oversight in principle but not this rollback.
Mixed/uncertain.
Sees value in agency standards for AVM reliability, but also acknowledges congressional review of federal rules.
Would want clearer evidence of rule harms or benefits before full support.
Likely supportive; views disapproval as limiting regulatory burden and agency overreach.
Considers nullifying the rule beneficial for industry flexibility and innovation in AVMs.
Prefers congressional check on financial regulators.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Content is narrow and procedurally straightforward, increasing plausibility, but final outcome hinges on chamber majorities and executive approval or veto risk.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize consumer protection and bias prevention.
Content is narrow and procedurally straightforward, increasing plausibility, but final outcome hinges on chamber majorities and executive a…
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