Richard Hunt, CBA president and CEO, says many consumers need short-term loans to help them make ends meet during challenging times. The Consumer Financial Protection Bureau says it is considering limitations on payday loans, and the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. are expected to issue guidance to banks making the loans. "CBA believes all products should be offered in a clear and transparent manner, and no product should force consumers into a 'debt trap,' " Hunt said. "CBA member banks who offer deposit advance products already mandate cooling-off periods for consumers." The Federal Reserve reportedly has not joined the other regulators on the issue.