Consumer Financial Protection Bureau Issues Report on 1031 Exchange Industry

CFPB Issues Recommendations on 1031 Exchange QI's

The Consumer Financial Protection Bureau or CFPB issued its long awaited report on July 21, 2012 regarding its recommendations for additional or new legislative and regulatory initiatives for the 1031 Exchange Qualified Intermediary Industry.

Qualified Intermediaries administer tax-deferred exchange transactions pursuant to Section 1031 of the Internal Revenue Code and Section 1.1031 of the Department of the Treasury Regulations

No New Regulations or Legislation Recommended 

CFPB's Report recommended no new or additional legislation or regulations be implemented for the 1031 Exchange Qualified Intermediary Industry.  The CFPB Report went into very specific details regarding the CFPB's assessment of the 1031 Exchange industry, including transaction volume, potential benefits of additional legislation or regulation versus cost/benefits incurred.