In a large bowl, cut the butter into the flour and mix with a fork until the mixture is crumbly. Add 1/2 cup pecans and mix well. Place the mixture in a 9" x 13" baking dish that has been coated with nonstick baking spray. Bake for 15 to 20 minutes, or until light golden. Remove from the oven and allow to cool.
In a large bowl, with an electric beater on medium speed, beat the cream cheese and confectioners' sugar until well combined. Add half the whipped topping; mix well. Pour over the cooled crust.
Cut the bananas into 1/4-inch slices and arrange in a single layer over the cream cheese layer.
In a large bowl, with an electric beater on medium speed, beat the pudding mix and milk until creamy. Spoon over the bananas and top with the remaining whipped topping. Sprinkle with the remaining 1/2 cup chopped pecans. Cover and chill for at least 1 hour before serving.