Within the next few months, Wells Fargo (WFC) expects to decide whether to continue offering a controversial consumer loan product that has come into regulators' crosshairs, Chief Financial Officer Timothy Sloan said Tuesday.

The company's Direct Deposit Advance bears a strong resemblance to a payday loan. Customers get charged $1.50 for every $20 they borrow, with full repayment usually due within no more than 35 days.

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