The law firm of Hagens Berman Sobol Shapiro filed a class action lawsuit on behalf of homeowners alleging Bank of America (BAC) created an enterprise designed to defraud borrowers seeking loan modifications through the Home Affordable Modification Program. 

The complaint claims the banking giant created a scheme that allowed it to deny help it promised to give thousands of customers in exchange for $45 billion in bailout funds.

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"BofA’s efforts to keep its employees from exposing the scheme were successful for far too long," said Berman.

He concluded, "Now – some very courageous former employees have come forward and shed light on this massive injustice that has impacted hundreds of thousands of people across the United States."