Abacus: Small Enough to Jail
Steve James
Q&As with Steve James
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Quick: what was the only bank that was actually prosecuted in the wake of the 2008 financial crisis? The astonishing but correct answer is Abacus Federal Savings of Chinatown, founded in 1984 by Thomas Sung, which specializes in small loans to members of the Chinese-American community. The latest film from Steve James (Hoop Dreams, Life Itself) is a vivid chronicle of the legal battle mounted by Sung and his formidable daughters when the Manhattan DA’s office charged the bank with systemic fraud, larceny, and conspiracy. Abacus is a moving portrait of a family, a community, and a way of life. It is also a cautionary tale.