Two banks that later became part of JPMorgan Chase, Citizens Bank and Canal Bank in Louisiana, received thousands of slaves as collateral for loans during the 19th century. The bank disclosed the information to the City of Chicago to comply with the City's ordinance requiring companies doing business with it to disclose any links to slavery. In addition, the bank sent a letter of apology to employees and will establish a $5 million college scholarship program that will provide full-tuition undergraduate scholarships to black students from Louisiana to attend colleges there.
See "JPMorgan: Predecessor Banks Owned Slaves", Reuters, The New York Times, January 20, 2005