Consumer advocates derided it as a "bank payday loan," while its sellers preferred the more neutral-sounding term "deposit advance." Whatever name goes on its tombstone, the product's funeral was unceremonious.

Over a weeklong stretch last month, all six institutions that offered the controversial credit product — they range in size from megabank to community bank — quietly announced plans to pull the plug. Pressure from federal banking regulators made the business untenable.

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