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01/24/2005:

"JP Morgan admits US slavery links"

Thousands of slaves were accepted as collateral for loans by two banks that later became part of JP Morgan Chase.

The admission is part of an apology sent to JP Morgan staff after the bank researched its links to slavery in order to meet legislation in Chicago.

Citizens Bank and Canal Bank are the two lenders that were identified. They are now closed, but were linked to Bank One, which JP Morgan bought last year.

About 13,000 slaves were used as loan collateral between 1831 and 1865.

Full Article : news.bbc.co.uk