NPR logo

Bank Run

  • Download
  • <iframe src="https://www.npr.org/player/embed/1241493/1241494" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
Bank Run

Bank Run

Bank Run

  • Download
  • <iframe src="https://www.npr.org/player/embed/1241493/1241494" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

When people in New York's Chinatown heard that a former branch manager at Abacus Federal Savings Bank was being investigated for "account irregularity," hundreds rushed to withdraw their money. A bank officer tried to reassure customers their money was safe. But the rumors did not stop, and today in Philadelphia hundreds rushed another Abacus branch. NPR's Robert Smith in New York tells NPR's Michele Norris about the story.