Abacus: Small Enough to Jail

Only one bank faced criminal indictments related to the 2008 financial meltdown: Abacus Federal Savings Bank, a small community bank in Chinatown, New York City. Thomas Sung founded the bank in 1985 to help his fellow Chinese immigrants gain a financial foothold in America on their way to citizenship. Abacus was the first bank indicted in over 20 years.

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