Abacus: Small Enough To Jail - Film Screening plus Q&A
Jill Sung, Kevin Puvalowski, Vera Sung, and Chanterelle Sung
Please join us for a free, public screening of the PBS documentary, Abacus: Small Enough To Jail. 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.
Following 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. None were brought to criminal court. But that wasn't the case for a small, family-owned bank tucked inside Chinatown in New York City.
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. It's the only bank to be indicted in connection to the 2008 crisis.
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.
Popcorn provided by the Asian Pacific American Law Students Association
Following 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. None were brought to criminal court. But that wasn't the case for a small, family-owned bank tucked inside Chinatown in New York City.
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. It's the only bank to be indicted in connection to the 2008 crisis.
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.
Popcorn provided by the Asian Pacific American Law Students Association
| Building: | South Hall |
|---|---|
| Event Type: | Film Screening |
| Tags: | Film, Free, Law, Social Justice |
| Source: | Happening @ Michigan from Asian/Pacific Islander American Studies, Department of American Culture, Multi Ethnic Student Affairs - MESA, Michigan Law Asian Pacific American Law Students Association |
