Hearing on Cordray nomination reportedly set for March 11

According to a report today from POLITICO Pro Finance, the Senate Banking Committee has tentatively set March 11 as the date for a hearing on Richard Cordray’s renomination as CFPB director.  Given that Senator Tim Johnson, the Committee chair, is a Democrat, the scheduling could be a sign that progress is being made on reaching a deal between Democrats and Republicans who have vowed to block the nomination without a change to the CFPB’s budget and organizational structure.  On the other hand, even if they believe the nomination is ultimately doomed to fail, Democrats may feel there is political value in holding a hearing nevertheless.