U.S. BANKS USED SLAVES AS COLLATERAL

Many of America's key banks today were built on the back of slavery. In the South, they’d regard enslaved people as financial assets, accepting them as collateral on loans and mortgages - especially after the War of 1812, when slave prices shot up. The practice was particularly prevalent among ‘frontier banks’ in Kentucky, Tennessee, Mississippi and Louisiana.

In this video, Congressman Al Green grills JPMorgan Chase CEO Jamie Dimon on his bank’s involvement in slavery. The institution used more than 13,000 slaves as collateral and ended up owning 1,250 of them when borrowers defaulted - that’s according to a study based on the bank’s records.

JPMorgan apologised in 2005. Do you think they need to do more? Leave your thoughts below.