“The immediate history of the case stretches back to autumn 2008, when state budget cuts trickled down to the partly state-funded University of California. The administration of that University responded by announcing that tuition fees would be increased by 32%, prompting several months of vocal student protests and campus occupations, violently suppressed by the state authorities.
As the collapse of the US banking sector caused the State of California to withdraw its funding for its public Universities, those same Universities turned to the banking sector for financial support. On 3 November 2009, just two weeks before riot police would end a student occupation at UC Berkeley by firing rubber bullets and tear gas at the students and faculty gathered outside, the University of California Davis announced on its website a new deal with US Bank, the high street banking division of U.S Bancor, the fifth largest commercial bank in the United States.
According to the terms of that deal, US Bank would provide UC Davis with a campus branch and a variable revenue stream, to be determined by the University’s success in urging its own students to sign up for US Bank accounts. In return UC Davis would print US Bank logos on all student ID cards, which from 2010 would be convertible into ATM cards attached to US Bank accounts. Just at the moment when, on the campus of UC Berkeley, riot police were beating up and shooting students who protested against austerity, fee increases, and their handmaiden, debt, the management of UC Davis was selling the debt of its own students to U.S. Bancor, the corporate beneficiary of ‘austerity.’”
[full article (Defend the Right to Protest)]