Abacus: Small Enough to Jail (2016)

Directed by Steve James. Mitten Media, Motto Pictures, Kartemquin Films.

Abacus Federal Savings Bank is a small, family-run bank serving New York’s Chinese immigrant community. It was also only US bank indicted for mortgage fraud in the aftermath of the 2008 global financial crisis. Steve James’ film argues that while Freddie Mac and Fannie Mae were deemed too big to fail, Abacus was scapegoated by prosecutors for what amounted to relatively low-level offending among a limited number of staff.

Thomas Sung founded the small New York bank in the early 1980s to help Chinese immigrants access loans. Today it is run by two of his four daughters — a third daughter, Chanterelle, left the district attorney’s office to work on the bank’s legal case. The family are impressive and the three women are all trained lawyers. This is not a film that sits on the fence, it clearly has a great deal of respect for the Sungs. But that such a minnow in American banking should face the harshest penalties is so absurd, in this case the bias seems justified.

It is a David and Goliath tale, but more than that, Abacus is a family story. Thomas Sung’s daughters did not grow up in Chinatown, or even in New York City, but they are drawn to defend his legacy within that community. Access to the family’s private moments, including disagreements as the case drags on, make this impressive documentary memorable.