CFA submitted a statement for the record last month to the U.S. House Financial Services Committee's Subcommittee on Consumer Protection and Financial Institutions for their hearing  called “The End of Overdraft Fees? Examining the Movement to Eliminate the Fees Costing Consumers Billions". CFA wrote to highlight the continuing issue that pervasive, costly overdraft and nonsufficient fund (NSF) fees cause for consumers— especially given that these fees are borne predominately by those who can least afford them. CFA  applauded some banks that have made significant changes to their overdraft programs, especially those that have ended all overdraft fees. While these actions are a huge benefit for these banks' customers, these measures are insufficient by themselves to make systemic change. Given the substantial harm caused by overdraft fees as they currently stand, CFA asked Congress and federal financial regulators to take decisive action to stop abusive overdraft fees at all financial institutions and to establish safeguards to ensure these fees to not come back.