Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to "Quality Control Standards for Automated Valuation Models".
Summary
What This Bill Does
H.J.Res.51 is a Congressional Review Act disapproval resolution. It targets the Consumer Financial Protection Bureau rule relating to Quality Control Standards for Automated Valuation Models and provides that the rule shall have no force or effect. The targeted interagency rule sets quality-control standards for automated valuation models used in mortgage and real estate credit decisions. The practical result is not a new replacement rule; it is a congressional veto of the agency action, which can also restrict the agency from issuing a substantially similar rule without new statutory authority.
Who Benefits and How
Mortgage lenders using AVMs benefit because disapproval would remove or prevent the regulatory obligations created by the rule. Members of Congress opposing the rule benefit because the CRA provides a direct vehicle to nullify the agency action. Regulated parties benefit from clearer congressional opposition to the rule and less near-term implementation risk. AVM vendors benefit if disapproval blocks federal quality-control obligations for model confidence, nondiscrimination, and conflict-of-interest controls.
Who Bears the Burden and How
Consumer Financial Protection Bureau rulemaking staff must respond to congressional disapproval and may be constrained from issuing a substantially similar rule. Mortgage borrowers facing valuation errors bear the burden if protections, standards, or program changes in the rule are blocked. Congressional oversight committees must handle the policy consequences of removing the rule without passing a replacement. Fair housing testers may lose a rule designed to reduce inaccurate or biased algorithmic property valuations.
Key Provisions
- Provides congressional disapproval of the Consumer Financial Protection Bureau rule relating to Quality Control Standards for Automated Valuation Models.
- Blocks the rule by declaring that it shall have no force or effect.
- Uses the Congressional Review Act rather than ordinary notice-and-comment rulemaking.
- Restricts the agency's ability to issue a substantially similar rule unless Congress authorizes it.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers.
At a Glance
What This Bill Does
Uses the Congressional Review Act to disapprove the Consumer Financial Protection Bureau rule relating to Quality Control Standards for Automated Valuation Models, causing that rule to have no force or effect.
Key Policy Areas
Administrative Law, Congressional Review Act
Primary Purpose
Uses the Congressional Review Act to disapprove the Consumer Financial Protection Bureau rule relating to Quality Control Standards for Automated Valuation Models, causing that rule to have no force or effect.
Policy Domains
Resolution provisions
Identified Gains
Contextual inference, no direct clause citation- Mortgage lenders using AVMs
- Members of Congress opposing the rule
- Regulated parties
- Congressional oversight committees
Contextual inference, no direct clause citation
Identified Costs
Contextual inference, no direct clause citation- Consumer Financial Protection Bureau rulemaking staff
- Mortgage borrowers facing valuation errors
- Congressional oversight committees
- Program administrators
Contextual inference, no direct clause citation
Legislative Progress
In CommitteeReferred to the House Committee on Financial Services.
Introduced in House
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology