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".

Summary

Directly disapproves and nullifies an FDIC regulation titled “Quality Control Standards for Automated Valuation Models” (89 Fed. Reg. 64538, Aug. 7, 2024). The resolution declares that the cited rule has no force or effect, removing the FDIC’s new binding quality-control standards for automated valuation models (AVMs).

• The resolution nullifies the FDIC’s rule "Quality Control Standards for Automated Valuation Models" (89 Fed. Reg. 64538).
• The named FDIC rule "will have no force or effect" once the resolution is enacted.
• Entities regulated by the FDIC are not required to comply with the newly proposed AVM quality-control standards.
• Automated valuation model vendors, banks, mortgage lenders, and appraisal professionals are the primary affected groups.
• Nullification under this process also generally prevents the agency from reissuing the same rule in substantially the same form without new statutory authority.
• The resolution does not create new spending, tax changes, or program authorizations — it only disapproves a specific administrative rule.
• Short-term effect: no compliance obligation for the nullified rule; longer-term effect: signals Congressional oversight limits on this FDIC regulatory approach.
• The action is narrowly focused on one FDIC rule; it does not change other supervision or consumer‑protection authorities the FDIC already exercises.