Filmmaker Steve James chronicles the legal battle fought by Abacus Federal Savings Bank of Chinatown, a small family run business which was also the only bank prosecuted in the wake of the 2008 financial crisis.
“a tense courtroom drama… and an endearing tale of a family that fought the government.” – Washington Post
“A stunning David-and-Goliath epic.” – Film Journal International
Abacus Federal Savings of Chinatown was founded in 1984 in New York by Thomas Sung as a small family-run operation which specialises in small loans to members of the local community. They were also the only bank that was prosecuted in the wake of the 2008 financial crisis. While all other financial institutions were too large to fail, Abacus were singled out as small enough to jail.
Faced with charges of systemic fraud, larceny and conspiracy, the Sung Family mounted a legal battle to fight to clear their name. Steve James (Hoop Dreams, Life Itself) weaves a moving portrait of the Sung Family and their commitment to protecting their business in this David and Goliath tale highlighting the importance of immigrant community institutions.