H.J.Res. 49 — 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".

H.J.Res. 49 — 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". | JustPolicyThe main purpose of this legislative text is to allow Congress to disapprove a specific rule put forth by the Federal Deposit Insurance Corporation (FDIC). This rule pertains to the quality control standards for Automated Valuation Models (AVMs), which are tools used to estimate property values. The key provision of this resolution is a formal disapproval of the FDIC's rule regarding AVMs. By passing this resolution, Congress is stating that the rule will not be enforced and will have no legal effect. This action is taken under a specific process outlined in U.S.