US
Us Congress House Bill HJR49

Us Congress 2025-2026 Regular Session

Us Congress House Bill HJR49

Introduced
2/12/25  

Caption

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Deposit Insurance Corporation relating to "Quality Control Standards for Automated Valuation Models".

Impact

The disapproval of the FDIC's AVM standards, if enacted, would remove regulatory requirements that currently affect how financial institutions assess property values. This could lead to a more flexible environment for appraising real estate, potentially benefiting banks and lenders as they operate under less stringent regulations. Supporters argue that the existing standards could hinder the efficiency and competitiveness of financial services, advocating for a more streamlined approach that can adapt to market conditions.

Summary

HJR49 is a joint resolution introduced in the 119th Congress aimed at disapproving a rule submitted by the Federal Deposit Insurance Corporation (FDIC) concerning the Quality Control Standards for Automated Valuation Models (AVMs). AVMs are used extensively in the banking and financial sectors for property valuation, impacting decisions related to mortgages and other real estate investments. The primary intent of this resolution is to negate the existing standards, which Congress believes may not align with the needs of financial institutions and could introduce unnecessary constraints.

Contention

The resolution has raised concerns among consumer protection advocates who fear that loosening quality control measures might lead to inaccuracies in property valuations. Opponents of the resolution argue that the current standards serve to protect consumers and ensure consistency and reliability in property assessments. The discussions surrounding HJR49 point to a significant clash between the interests of financial institutions wanting more operational freedom and the imperative for consumer protection in the real estate sector.

Congress_id

119-HJRES-49

Policy_area

Finance and Financial Sector

Introduced_date

2025-02-12

Latest HJR49 Activity

Companion Bills

No companion bills found.

Previously Filed As

US HJR109

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".

US HJR181

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Definition of 'Employer'-Association Health Plans".

US HJR126

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Deposit Insurance Corporation relating to "Principles for Climate-Related Financial Risk Management for Large Financial Institutions".

US HJR69

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Environmental Protection Agency relating to "Federal 'Good Neighbor Plan' for the 2015 Ozone National Ambient Air Quality Standards".

US HJR110

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of the Treasury relating to "Coronavirus State and Local Fiscal Recovery Funds".

US HJR98

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the National Labor Relations Board relating to "Standard for Determining Joint Employer Status".

US HJR211

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Communications Commission relating to "The Emergency Alert System and Wireless Emergency Alerts".

US HJR218

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Energy relating to "Energy Conservation Program: Energy Conservation Standards for Commercial Water Heating Equipment".

US HJR130

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Federal Railroad Administration relating to "Train Crew Size Safety Requirements".

US HJR142

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Retirement Security Rule: Definition of an Investment Advice Fiduciary".

Similar Bills

No similar bills found.