Abacus Bank Legal Challenges

The video discusses 'Abacus: Small Enough to Jail,' a film about the only bank prosecuted after the 2008 mortgage crisis. Abacus, a family-owned bank in Chinatown, faced legal challenges after discovering internal fraud. Despite being targeted by the district attorney, the bank's family and community stood resilient. The film highlights the family's determination to fight for their bank and community, contrasting Abacus's responsible practices with those of larger banks during the crisis.

What is the primary focus of the film 'Abacus: Small Enough to Jail'?

• The impact of the 2008 crisis on global markets

• The prosecution of a family-owned bank post-2008 crisis

• The rise of big banks after the 2008 crisis

• The role of regulators in the 2008 crisis

What action did the bank take upon discovering the fraudulent activities of a loan officer?

• They promoted the officer

• They ignored the issue

• They reported it to regulators

• They covered it up

What was the district attorney's office convinced of regarding Abacus?

• The bank had no issues

• The bank was too small to matter

• The loan department was corrupt

• The bank was a victim of fraud

What was the community's perception of the trial against Abacus?

• It was a minor issue

• It was a trial against the community itself

• It was a fair trial

• It was unrelated to them

How did the Sung family respond to the legal challenges they faced?

• They decided to close the bank

• They fought back with determination

• They accepted the charges

• They relocated the bank

What was highlighted about Abacus's practices during the financial crisis?

• They had high default rates

• They were involved in risky investments

• They had low default rates

• They were similar to big banks

What positive outcome did the Sung family experience from the legal battle?

• They became more divided

• They grew stronger and more united

• They lost their community support

• They decided to sell the bank