You likely will see most small banks end their overdraft programs as they will have too many losses without a way to make it back up on the fee income. Then the community banks will lose customers to the Bank of America type mega banks leading to less competition and worse banking conditions.

And people who spend money they don’t have will still be charged fees. Instead people will get charged fees on the other end for writing bad checks or missing payments due to auto payments being rejected for non sufficient funds.