There have been many, many suggestions concerning raising the amount of banners, but up to now the devs have been fairly silent on the matter. There have also been rumors that it is possible to mod around the cap, but nobody seems to know for sure. I think this is something that's very important to the community, born witness to by the major interest Timothy the Knight's custom pack has aroused. The good people at Taleworlds have always gone out of their way to accommodate modders, so if enough of us show how important a bit more freedom in this area is to us, perhaps they'll do something about it.
