The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. will soon impose strict limits on so-called deposit-advance loans, according to people familiar with the regulators' plans.

Among the regulators' intended mandates are a month-long "cooling-off period" between the repayment of one loan and the issuance of another and a requirement that banks underwrite the product. Those changes could force FDIC- and OCC-regulated banks offering the small-dollar loans, which are similar to payday loans offered by nonbanks, to either dramatically change their products or drop them entirely.

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