Yes the clay mineral which forms the mian component of bentonite, which is typically some kind of montmorillonite can occur naturally in either the sodium or the calcium form and both forms may be modified to the other form by cation exchange. For commercial bentonites that occur in the calcium form this is often accomplished by the addition of sodium carbonate for example.
Exposure of a given clay to salt solutions for a considerable duration (for cation exchange) modifies the type of exchangeable cations at the surface. The procedure for preparing homoionized clays is found in many literature works.
Yes it can be using cation exchange. You can benefit from literature, I suggest to read the paper published in journal of clay minerals for Bleifuss vol 10 no 41 (1973) entitled activation of non swelling bentonite. Use the following link please: