H. J. RES. 48 is a joint resolution that seeks to cancel a specific rule set by the Board of Governors of the Federal Reserve System. This rule, known as “Quality Control Standards for Automated Valuation Models,” was published on August 7, 2024. The resolution asserts that Congress...
Simple Explanation
This is a plan from Congress to stop a rule they didn't like from the Federal Reserve about how they check the computers that figure out how much a house is worth. They didn't say why they don't like it, and it leaves people wondering what will happen next.