The Senate is next for banker-backed legislation that wouldraise the number of shareholders from 500 to 2,000 before a bankhas to register with the Securities and Exchange Commission.

The measure, which banks say would make it easier for them toraise capital and give them more money to lend, passed the Houselate Wednesday 420-2.

The measure, sponsored by Rep. James Himes (D-Conn.), issponsored in the other chamber by Sen. Kay Bailey Hutchison(R-Texas).

It's one of a series of regulatory relief measures for banksthat are pending in Congress this year. CUNA Senior Vice PresidentRyan Donovan said while the Himes-Hutchison bill will help banks,his organization isn't necessarily going to oppose it for thatreason.

“It caught our attention but it is a bill that passed the Housewith 420 votes. And we don't automatically oppose anything justbecause the bankers support it. Just as they don't necessarilyoppose everything we ask for, such as the creation of the TemporaryCorporate Credit Union Stabilization Fund,'' Donovan said.

The most comprehensive bank regulatory relief bill is onesponsored by Sen. Jerry Moran (R-Kan.) and Rep. Blaine Luetkemeyer(R-Mo.). The regulatory provisions include making it easier for theFinancial Stability Oversight Council to overturn regulations ofthe Consumer Financial Protection Bureau and repeal the FederalReserve's authority to delegate some of its examination authorityto the CFPB.

House Financial Services Committee Chairman Spencer Bachus(R-Ala.) is a cosponsor of that measure. He hasn't signed on to thecredit union-backed bill that would raise the cap on member business loans from 12.25% of assets to 27.5% ofassets.