![]() ![]() 12 September 2016.First federal savings & loan association of mcminnvilleįedfirst financial mutual holding companyĪbacus Federal Savings Bank is a full service financial institution with 6 branches covering New York, New Jersey and Pennsylvania. ^ "After the Crash, Big Banks Got Bailouts.^ After 2008 financial crisis, only one bank faced criminal charges." 'The Divide': A Startling Portrait of U.S. Talk to an advisor, make an appointment or apply for a loan. Archived from the original on February 3, 2013. "Mortgage Fraud Prosecutors Pounce on a Small Bank". "A Tiny Bank's Surreal Trip Through a Fraud Prosecution". "Abacus Bank Found Not Guilty of Mortgage Fraud and Other Charges". Kevin Xue is a Vice President, Branch Manager at Flushing Bank based in Uniondale, New York. "Abacus Federal Savings Bank indicted for mortgage fraud". Abacus: Small Enough to Jail was nominated for the 2018 Academy Award for Best Documentary Feature. It was broadcast nationally on PBS Frontline on September 12, 2017. The story is told in Steve James's feature-length documentary Abacus: Small Enough to Jail, which had its premiere at the Toronto International Film Festival, September 11, 2016. Average Volume (monthly) Average Units (monthly) NMLS ID. Jill Sung criticized the disparate treatment, including a perp walk, as blatant racism against Asian Americans. Abacus Federal Savings Bank, Flushing, NY is a branch of Abacus Federal Savings Bank and is located at 36-30 Main St, Flushing, NY 11354. It was criticized by journalist Matt Taibbi in his 2014 book The Divide: American Injustice in the Age of the Wealth Gap. The aggressive prosecution of Abacus, in contrast to the relatively lenient treatment received by large banks, was questioned and criticized by various media outlets. The bank, along with its former Chief Credit Officer and its former loan supervisor, were acquitted of all charges brought by the New York prosecutors in a jury trial in New York Supreme Court on June 3 and 4, 2015. It also said it was not involved with the fraudulent packaging of subprime mortgage securities and had a mortgage default rate of 0.5%, a tenth of the national average. Abacus argued that it uncovered the improper behavior itself, reported it to the regulator, and fired the employee in question. Check locations of all 1 branches of Abacus Federal Savings Bank in Flushing on Google Map. The bank was accused of falsifying loan applications so that borrowers would qualify for mortgages. In May 2012, New York prosecutors from the Manhattan District Attorney's office indicted the bank and 19 of its employees on charges of fraud in relation to hundreds of millions of dollars' worth of mortgages that had been sold to Fannie Mae between 20. Its mortgage and other services extend to all states in the United States. (AIAC), which provides life, health, accident, and annuity insurance. ''Ow do,' Timmo muttered, his face flushing. ![]() ![]() Timmo came strolling along, with that walk. Other services Ībacus has a wholly owned insurance subsidiary, the Abacus Insurance Agency Corp. The girls moored up behind and, with Pup, jumped on to the bank. The bank has locations in New York, New Jersey, and Pennsylvania. The aggressive prosecution of Abacus, in contrast to the relatively lenient treatment received by the large banks, was questioned and criticized by various media outlets.Ī documentary about the prosecution and exoneration of Abacus, Abacus: Small Enough to Jail, was nominated for the 2018 Academy Award for Best Documentary Feature. Abacus Federal Savings Bank Branch Location at 36-30 Main Street, Flushing, NY 11354 - Hours of Operation, Phone Number, Routing Numbers, Address, Directions and Reviews. bank prosecuted in relation to the 2008 financial crisis it was exonerated of all charges following a jury trial in 2015. Abacus Federal Savings Bank ( Chinese: 國寶銀行) is an American bank founded in December 1984 by a group of business leaders from the Chinese American community in New York City.Ībacus was the only U.S. ![]()
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