The Sungs immediately fired him, referred the matter to their regulator, and reported the incident to the police. The events that are chronicled were set in motion when the Sungs discovered that one of their loan officers was taking money from borrowers in order to create false loan documents. Sung and his wife are the parents of four daughters-three lawyers and one medical doctor-including two affiliated with the bank: Jill Sung ’90, president and CEO of Abacus, and her elder sister Vera, who sits on the board. That bank is Abacus Federal Savings Bank, located in New York City’s Chinatown and founded in 1984 by Thomas Sung, an immigration lawyer and an immigrant himself, who saw the need for this within the insular community.

bank to be criminally charged in connection with the 2008 financial crisis. On Sept.12 (check local listings), Public Broadcasting Service’s Frontline will broadcast Abacus: Small Enough to Jail, a new documentary by Steve James ( Hoop Dreams, Life Itself) that tells the story of the only U.S. bank indicted for mortgage fraud related to the 2008 financial crisis. The film chronicles the saga of the only U.S. Jill Sung ’90, center, with her sister Vera and father, the founder of Abacus Federal Savings Bank, in a still from the new documentary by Steven James, which will air on PBS Frontline Sept.

Abacus federal savings bank