A bill to amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a Portal for Appraiser Credentialing and AMC Registration Information, and for other purposes.
Latest action (30 Sep 2026): Introduced
What this bill does
S. 5639, introduced by Senator Mike Rounds, is a bill that proposes to amend a previous law concerning financial institutions. Its stated purpose, based on its title, is to create a central online system, referred to as a Portal, for information related to appraiser credentialing and Appraisal Management Company (AMC) registration. The bill also includes a clause for "other purposes," but specific details on these are not yet available.
This legislation would likely affect individuals and companies involved in real estate appraising and the management of appraisal services. By establishing a unified portal for credentials and registration, it aims to streamline access to this information. The broader impact of this centralization on the financial industry, specifically regarding real estate transactions and regulatory oversight, is not detailed in the provided information.
As of its introduction on September 30, 2026, S. 5639 is in the initial stages of the legislative process. It has been introduced in the Senate and is awaiting further action. For the bill to become law, it would need to be considered and passed by both the Senate and the House of Representatives, and then be signed by the President. The full text of the bill, which would outline its specific provisions and mechanisms, has not yet been published.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
This bill is in the first stage of the legislative process. It was introduced into Congress on September 30, 2026. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.
Common questions
- What does S. 5639 do?
- S. 5639, introduced by Senator Mike Rounds, is a bill that proposes to amend a previous law concerning financial institutions. Its stated purpose, based on its title, is to create a central online system, referred to as a Portal, for information related to appraiser credentialing and Appraisal Management Company (AMC) registration. The bill also includes a clause for "other purposes," but specific details on these are not yet available. This legislation would likely affect individuals and companies involved in real estate appraising and the management of appraisal services. By establishing a unified portal for credentials and registration, it aims to streamline access to this information. The broader impact of this centralization on the financial industry, specifically regarding real estate transactions and regulatory oversight, is not detailed in the provided information. As of its introduction on September 30, 2026, S. 5639 is in the initial stages of the legislative process. It has been introduced in the Senate and is awaiting further action. For the bill to become law, it would need to be considered and passed by both the Senate and the House of Representatives, and then be signed by the President. The full text of the bill, which would outline its specific provisions and mechanisms, has not yet been published.
- Has S. 5639 become law?
- Not yet. As of 30 Sep 2026, S. 5639 is introduced.
- Who sponsored S. 5639?
- S. 5639 was sponsored by Sen. Mike Rounds [R-SD] (Republican-SD), with 0 cosponsors.
- What's the latest action on S. 5639?
- Introduced (30 Sep 2026).
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