By Rick Rothacker

Tue Aug 21, 2012 6:25pm EDT

(Reuters) – Bank of America Corp will stop selling credit protection services which were the subject of a class action suit in which customers alleged they were charged without their permis

the law

sion and enrolled through deceptive practices.

A $20 million settlement of the lawsuit received preliminary court approval last month but still needs final approval.

A bank spokeswoman on Tuesday confirmed Bank of

America’s decision to end the services. The bank denied any wrongdoing in the settlement.

For a monthly fee, the services canceled customers’ minimum monthly credit card payments if they lost a job, were hospitalized or faced other significant life events.

The lawsuit also alleged that customers didn’t get their money’s worth.

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Courtesy of http://www.reuters.com