H.J.Res. 48 — Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Board of Governors of the Federal Reserve System relating to "Quality Control Standards for Automated Valuation Models".

H.J.Res. 48 — Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Board of Governors of the Federal Reserve System relating to "Quality Control Standards for Automated Valuation Models". | JustPolicyThe main purpose of this legislative text is to allow Congress to disapprove a specific rule set by the Federal Reserve regarding quality control standards for automated valuation models. These models are used to determine the value of properties, often in the context of mortgages and real estate transactions. The objective is to ensure that Congress has the authority to reject regulations that it believes may not be in the best interest of the public or the economy. The key provision of this resolution states that Congress officially disapproves the rule submitted by the Federal Reserve.