The Senate entered its second day of debate on the  credit union bill Monday afternoon, clashing over three amendments that   would impose tougher business lending limits on the nonprofit institutions   and exempt small banks from CRA requirements.     
Votes were expected late in the afternoon on amendments by Sen. Chuck  Hagel, R-Neb., and Sen. Phil Gramm, R-Tex. Sen. Hagel's amendment would   restrict business loans to 7% of credit union assets, tightening the 12.25%   cap already in the legislation. Sen. Gramm wants to delete a requirement in   the bill that credit unions serve people of modest means in their field of   membership.         
  
Sen. Richard C. Shelby, R-Ala., also was expected to offer an amendment  to exempt banks with less than $250 million of assets from the Community   Reinvestment Act. Tallies on the Shelby amendment and final passage were   set for this morning.     
For an update on late-breaking votes, visit our Web site at  www.americanbanker.com.