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National News: First Black judge on Louisiana high court dies; Feds Sponsor Program To Promote Black Banks

June 23rd, 2008

First Black judge on Louisiana high court dies
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Justice Revius O. Ortique, a seminal civil rights figure and the first African American elected to the Louisiana Supreme Court, died Sunday following a stroke a week earlier. He was 84 years old. The New Orleans native and World War II veteran earned his bachelor’s degree from Dillard University, a master’s from the University of Indiana and his law degree from Southern University in 1956, according to HistoryMakers.com. Ortique began his own private law practice in 1956, working on any type of case but focusing primarily on estate cases. His practice became one of the largest estate practices in the State of Louisiana. As the President of the Community Relations Council, Ortique served as “chief negotiator” for the peaceful desegregation of lunch counters, hotels and other public facilities in New Orleans. Between 1965 and 1967, Ortique served as the president of the National Bar Association. In 1970, after the National Guard shot to death four students and wounded four others who were protesting the war in Southeast Asia, then-President Richard Nixon appointed Ortique to the President’s Commission on Campus Unrest. Four years later, Nixon named Ortique to the newly created Legal Services Corporation, designed to guarantee equal access to the criminal justice system by providing legal assistance to poor defendants. In 1992, Ortique was elected to the Louisiana Supreme Court; he retired two years later. He was named an alternate to the United Nations General Assembly by President Clinton in 1999, HistoryMakers.com says.

Program aims to give minorities money help
The Federal Reserve System is hoping that a new project will give minority-owned banks a much-needed leg up in providing access to credit and financial services, particularly in poor communities. The Partnership for Progress program will give innovative outreach and technical assistance at minority institutions. “The program’s overarching mission is to preserve and promote minority-owned institutions and to enhance their vital role in providing access to credit and financial services in communities that have been historically underserved,” said Federal Reserve Board Chairman Ben S. Bernanke. “The Federal Reserve is committed to helping minority-owned and de novo banks achieve long-term success.” The Partnership for Progress provides insight on key issues in three distinct stages of a bank’s life cycle: “Start a Bank,” “Manage Transition,” and “Grow Shareholder Value.” Topics covered include credit and interest-rate risk, capital and liquidity, and banking regulations. To ensure broad access to the program, all aspects of the training will be available through workshops, online courses, and the program’s interactive Web site. “This cutting-edge program, which draws on insights from economics, accounting, finance, and regulatory compliance, will become a valuable resource for institutions at different stages of their development,” said Federal Reserve Board Governor Randall S. Kroszner.

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