Federal RuleAug 21
62
DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push
RuleLabor DepartmentFederal Contract Compliance Programs OfficeSignificant Wallet
119-hjres-50119th CongressWALLET
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".
Sponsored By: Representative Clyde, Andrew S. [R-GA-9]
Introduced
Summary
Overturns the National Credit Union Administration's (NCUA) quality-control standards for automated valuation models. The joint resolution would nullify that NCUA rule so it would have no force or effect.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Cancel NCUA rule on automated appraisals
If enacted, this would nullify the NCUA rule titled "Quality Control Standards for Automated Valuation Models" (89 Fed. Reg. 64538, August 7, 2024). The rule would have no force or effect. Credit unions regulated by NCUA and AVM providers would not need to follow those quality-control standards. If passed, this could lower compliance costs for credit unions and vendors. It could also reduce oversight of property valuations used in lending. The change would take effect upon enactment.
Sponsors & CoSponsors
Sponsor
Clyde, Andrew S. [R-GA-9]
GA • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov