Bank of America said it would eliminate insufficient funds fees in February and reduce overdraft charges from $35 to $10 for customers by May, in a Jan. 10 press release. The bank has become the latest financial institution to move away from the practice amid years of pressure from critics who say the fees unfairly target vulnerable communities and people living paycheck to paycheck. Critics in government and consumer advocates have long called for overdraft fees to be eradicated. “The most common overdraft fee industrywide is $35, which packs a punch that predominantly hits younger and lower income households,” Bankrate Chief Financial Analyst Greg McBride told The Epoch Times. “For the small share of accountholders that generate repeated overdrafts, the wind is blowing in your direction and a broader trend of relief on overdraft fees is afoot,” continued McBride. Many banks now are limiting their reliance on overdraft fees, as they face stiffer …