![]() ![]() The panel will discuss why the film was made, how Abacus is doing since the jury’s vindication of the bank, and the bank’s role in the New York City Chinatown community. Reception RSVP Online Join us for a discussion with Dean Nick Allard and Thomas Sung ’64, Founder and Chairman of Abacus Federal Savings Bank, subject of the Oscar-nominated documentary Abacus: Small Enough to Jail. 24 the Abacus Federal Savings Bank announced that it would be distributing a total of 50,000 to ten local non-profit Chinese. (Image: Vision Times/Vision Times Staff) On Nov. It's the only bank to be indicted in connection to the 2008 crisis. Community members gather at the Abacus Federal Reserve Bank where 50,000 was distributed to 10 local Chinese non-profit organizations on Dec. In 2012, Abacus Federal Savings Bank was indicted on charges of fraud in relation to hundreds of millions of dollars' worth of mortgages that had been sold to Fannie Mae from 2005 to 2010. Download vCard Lawyers: Interested in Your Traffic Stats Go Premium. With a robust skill set that includes Management, Banking. But that wasn't the case for a small, family-owned bank tucked inside Chinatown in New York City. Welcome remarks were provided by Jill Sung, ABNY Foundation Board of Trustees and Chief Executive Officer of Abacus Federal Savings. Jill Sung, based in New York, NY, US, is currently a CEO at Abacus Federal Savings Bank. The screening will be followed by a Q&A session featuring four panelists from the film: Jill Sung, CEO of Abacus Bank, Vera Sung, Chantrelle Sung, and Abacus attorney, Kevin Puvalowski.įollowing the 2008 mortgage crisis, which led to a $700 billion government bailout, the biggest financial institutions in the country were given a light tap on the wrist in fines and penalties. Vera and Jill work at Abacus Federal Savings Bank, a small bank in Chinatown, New York that their father Thomas Sung founded in 1984. One afternoon in the fall of 2009, Jie Chen and Ariel Chi walked into the headquarters of Abacus Federal Savings Bank, near Canal Street, to inquire about a mortgage. Please join us for a free, public screening of the PBS documentary, Abacus: Small Enough To Jail. James’s PBS Frontline film Abacus: Small Enough to Jail follows the Abacus Federal Savings Bank, run by the Sung family, as it is indicted by the Manhattan District Attorney’s office on.
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