July 21, 2012--San Diego, California--Exeter 1031 Exchange Services, LLC announced today that the Consumer Financial Protection Bureau has issued its Final Report Pursuant to Section 1079 of the Dodd-Frank Act on the 1031 Exchange Qualified Intermediary Industry.
Section 1079 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) required the Consumer Financial Protection Bureau, or "CFPB" as it is commonly called, to submit a report to the United States Congress no later than July 21, 2012, describing recommendations for legislation, regulatory updating, and new regulation "to ensure the appropriate protection of consumers who use exchange facilitators for transactions primarily for personal, family, or household purposes."
The CFPB's Report had no recommendations for additional or new legislation or regulaton for the 1031 Exchange Qualified Intermediary Industry at this point in time.
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Exeter 1031 Exchange Services, LLC is a leading national provider of Qualified Intermediary, Exchange Accommodation Titleholding, and 1031 Exchange Advisory Services for individual, corporate and institutional clients throughout the United States and the world. Exeter administers all types of 1031 Exchange transactions, including Forward, Reverse and Improvement (Build-To-Suit or Construction) 1031 Exchange structures, for real estate, personal property and foreign assets.
Exeter 1031 Exchange Services, LLC currently has national office locations in San Diego, Los Angeles, Newport Beach, Fresno, and San Francisco, California, as well as Kona, Hawaii; Colorado Springs, Colorado; Chicago, Illinois; Pittsburgh, Pennsylvania; East Northport, New York; and Springfield, New Jersey. You can contact Exeter at anytime, 24 hours a day, 7 days a week, 365 days a year. Call Exeter 24/7 provides round-the-clock access to our Senior 1031 Exchange Advisors when you need them.