Louisiana Senate Bill SR110

Louisiana 2010 Regular Session

• Introduced: 6/2/10
• Passed: 6/2/10

Caption

Commends and honors Mr. Alden J. McDonald, Jr., as a "Beat the Odds Champion" in New Orleans, and for being a trail blazer in the business and financial arena for many Louisiana citizens and for providing opportunities to the underserved.

Impact

The resolution serves to reaffirm the importance of community leaders like Alden J. McDonald Jr. in fostering economic opportunity, particularly for minority populations. By commending his leadership, the resolution underscores the critical role of minority financial institutions in enhancing community development and access to banking services for low and moderate-income individuals. This acknowledgment may encourage similar advocacy and support for economic initiatives that prioritize equity in financial access across the state.

Summary

Senate Resolution No. 110 is a commendation honoring Alden J. McDonald Jr. for his exemplary contributions as a business leader and community advocate in New Orleans. The resolution highlights his pivotal role as President and CEO of Liberty Bank and Trust Company, which is one of the largest African-American owned financial institutions in the United States. The recognition emphasizes his impact on empowering underserved communities and his extensive career dedicated to financial inclusion and economic development in Louisiana.

Sentiment

The overall sentiment surrounding SR110 is overwhelmingly positive as it celebrates the achievements of an individual notable for his contributions to the community and economic landscape. This tribute reflects a collective appreciation from the Senate for McDonald's lifetime of work which has had meaningful impacts, particularly in the wake of adversity faced by communities such as those affected by Hurricane Katrina. The commendation inspires a sense of pride and recognition within the New Orleans community.

Contention

While SR110 is primarily a commendation, it also implicitly highlights challenges related to equitable economic development and the need for continued support for minority-owned businesses. There is an underlying recognition of the systemic barriers that still need to be addressed to further enhance opportunities for underserved populations. As such, the resolution may spark discussions on how legislative and financial institutions can better serve these communities moving forward.