![]() ![]() I’m also interested in people who tend to be on the margins of society but whose lives say something about the world we live in. And with the Sungs it’s about what could happen to them, and the bank’s future. Even in the Roger Ebert film it ended up being a film about how he and his wife, Chaz, faced the last month of his life. In ‘The Interrupters’, you have people being part of the problem of violence in Chicago deciding they want to change it. “I tend to follow people facing a significant crossroads in their lives,” says James. The veteran filmmaker likes to tell stories about people facing a turning point in their lives who in some ways are on the margins of society, but have a universal tale to tell. “Abacus: Small Enough to Jail” is typical of James’ output. After a four-month trial and a defense cost of $10 million, the bank and family were found not guilty on all counts. Morgan Chase, that were connected to the financial collapse. didn’t have much fear as an elected official going after this bank.” As opposed to the giant Wall Street banks, like Goldman Sachs and J.P. “And the other thing that became clear to me making the film was that the D.A.’s office felt like they were on safe ground putting this bank on trial because the Chinese community in New York is politically disenfranchised. “In many ways, it is a classic story in the way in which if you are not white, there is a different situation regarding justice in this country,” says James. Goliath epic, asking why the Manhattan District Attorney’s office chose, out of all the banks in New York, to pick on this one. The story of its legal troubles is a complex tale involving cultural misunderstanding, possible racism and prosecutorial over-reach. Abacus was founded and run by a tight-knit Chinese American family the bank served an overwhelmingly immigrant constituency. ![]() James’ film follows the story of the Abacus Federal Savings Bank, the 2,651st largest bank in the country, which was hit with a 240-count indictment alleging grand larceny, fraud, conspiracy and other crimes. The fact this nomination could allow for a wider audience - I love that.” The Sungs are an example of why this country was built by immigrants, and their story is also what’s wrong with this country in terms of the justice system. “I was just thrilled” to get the nomination, says James, “because this story is so important and so timely, given who we have in the White House. “We are pleased when a new member joins our exchange, but especially pleased when a bank such as Citizens Trust Bank – one that is actively involved in their community - becomes part of our membership roster.WATCH: Video Q&A’s from this season’s hottest contenders » “We are proud and honored to announce Citizens Trust Bank as an AFX member,” said Richard Sandor, Chairman and CEO of the AFX. In addition, a futures contract based on the AMERIBOR® 3-month and 7-day loan contracts, followed by other short-term interest rate products, will begin trading on August 16, 2019. Current active AFX markets are overnight, thirty-day, and three-month unsecured loans and 7-day secured loans. AFX’s 151 members have a presence in 50 states. The rate is denoted as a 360-day annualized percentage rate up to the 5th decimal.ĪFX has transacted more than US$485 billion cumulatively since it opened in December 2015. ![]() The rate is calculated as the weighted average daily volume in the AFX overnight unsecured loan market. “By becoming a member of the American Financial Exchange our ability to gain access to a network of banks will help us serve our customers even better.”ĪFX facilitates the determination of AMERIBOR® – a transaction-based interest rate benchmark for financial institutions via its electronic trading platform. “As a minority-owned bank, Citizens Trust Bank is acutely aware of the needs of our community,” said Cynthia Day, President and CEO of Citizens Trust Bank. Other minority-owned banks which are members of AFX include New York City-based Abacus Federal Savings Bank Los Angeles-based Bank of Hope and Pacific City Bank (Asian-American) and Lone Star National Bank of Texas (Hispanic) and FirstBank of Puerto Rico. Citizens Trust Bank is the first African American minority-owned bank to become a member of the AFX. Press Release | American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American financial institutions, has announced that Citizens Trust Bank located in Atlanta, Georgia, has joined the Exchange. ![]()
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