According to the government appointed overseer of the widely publicized agreement between the US Justice Department, 49 state Attorneys General and five of the nation’s largest banks that released those banks from liabilities arising from their submitting forged documents to the courts in their effort to foreclose on the homes of millions of Americans (a crime referred to as “robo-signing”) the Bank of America has failed to modify a single mortgage for its customers, a requirement under the terms of the agreement, since the day the settlement was signed.

Bank of America was required under the settlement to provide the most relief for its customers of the five banks who entered into the agreement that absolved them from prosecution by the states and the federal government. Other banks that are party to the agreement were reported by the settlement administrator to have already provided hundreds of millions of relief to their mortgagees.

Each of the banks who entered into the agreement to end investigations into their criminal practices have, since the beginning of the New Depression in 2008, benefitted from the US government’s provision to the banking sector of direct cash infusions, purchases of junk assets, and near zero percent interest rate loans totaling more than $15 trillion.