Richard Cordray, who recently took the reins of the Consumer Financial Protection Bureau (CFPB), outlined his vision for the agency in a wide-ranging interview on MSNBC's
Morning Joe program. Cordray, whose recess appointment sparked controversy last month, appeared on the program January 18th.
Cordray shared his perspective on the need for a federal agency to monitor consumer finance, as well as the ways in which credit unions had been harmed by unscrupulous lenders during the housing bubble.
The interview also contained a lighter moment, as Cordray's 1987 appearance on the television program Jeopardy was revealed. The segment included a clip of the much younger Cordray correctly answering a Final Jeopardy question and winning for the fifth consecutive day.
To view the video clip, please click here. Cordray's comments on the housing market crash and its impacts on credit unions begins at 6:30.