Abacus Federal Savings Bank
| Company type | Private |
|---|---|
| Industry | Finance and insurance |
| Founded | New York City (1984) |
| Founder | Thomas Sung |
| Headquarters | New York, New Jersey, and Pennsylvania |
Key people | Thomas Sung (Founder, Chairman of the Board) Jill Sung (President and CEO) |
| Products | Banking |
| Total assets | US$358.779 million (March 31, 2021) |
| Website | www |
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.
Abacus was the only U.S. bank prosecuted in relation to the 2008 financial crisis; it was exonerated of all charges following a jury trial in 2015. 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.
A documentary about the prosecution and exoneration of Abacus, Abacus: Small Enough to Jail, was nominated for the 2018 Academy Award for Best Documentary Feature.