ABACUS FEDERAL SAVINGS BANK SAVINGS ACCOUNT MOVIE
Jill Sung says since the movie came out, people have been telling them about many more stories of racial bias against Asian-Americans. It’ll be in more theaters nationwide afterwards. declined to comment for this article, but in the movie, he says the public arrest was “very unfortunate” and can “create feelings that…don’t reflect the view of the office.”Ī documentary about this case, “Abacus: Small Enough to Jail,” will be showing in Philadelphia for a week starting June 16 at the Ritz at the Bourse. New York district attorney Cyrus Vance Jr. In France, it’s illegal for media outlets to show suspects in handcuffs before they’re convicted. His lawyers argued that if he were shackled during the trial, he would look guilty to the jury.
ABACUS FEDERAL SAVINGS BANK SAVINGS ACCOUNT TRIAL
“Normally people take painstaking measures to cover the handcuffs with a coat or folder or whatever because once you see handcuffs on somebody, you automatically now think they’re guilty,” she said.Ĭolorado theater shooter James Holmes wore a hidden harness for his trial in 2013, and part of it was disguised to look like a computer cable. Her sister and bank director Vera Sung says this is a stark contrast to how suspects are normally treated. “Most of them in that chain were women and at least one or two of them were grandmothers.” “Eight or nine of our former employees, who they decided to arrest, was linked by chain together and forced to walk through a row of media cameras,” she said. She points to one instance, when the DA arrested some bank employees very publicly. “We saw it in the way they approach the case, we saw it in the way they approached their witnesses, we saw it in the way they approached our employees,” she said. Jill Sung says it’s also “pretty transparently clear that race bias against Asian Americans, Chinese Americans played a role.” The New York Times reported in 2011 that officials were worried about aggressive prosecution threatening an already fragile financial system. Not because of the fraud, they knew about that.īack in 2009, they found out one of their loan officers was lying on mortgage applications, but they had already fired him, done an internal investigation, and shared their findings with regulators, the police, and the DA’s office.Īnd of course the mortgage crisis implicated many banks, so why go after this one?įirst of all, Abacus is a small bank. In 2012, when the New York County District Attorney indicted the bank for mortgage fraud, the Sung family was confused. “Like even FDIC insurance, they may not understand what that means, like why would the government back stop every single insurance up to $250,000.” “It creates a kind of fear and distrust under people who live under that regime, towards government in general,” Sung said. For instance, she says immigrants from China are familiar with an authoritarian government. “We need to maintain that still because we have a large sector of our population who are still using those passbooks, we can’t turn our backs and say well don’t use those anymore,” she said.Ībacus understands the cultural differences between most US banking customers and the Chinese immigrants it serves. Sung says most large banks don’t offer those accounts anymore. Deposits and withdrawals are stamped on the book, so you have to do your transactions with an actual person. That’s where the customer carries a passbook with them. It serves primarily Chinese-American immigrants, so it’s a little different.įor instance, they still have a type of account called a passbook savings account. WHYY thanks our sponsors - become a WHYY sponsor
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