Ayatollahgondola
08-12-2010, 07:32 PM
University of California at Davis has entered into a contract with US Bank as exclusive territory to market to students. In other words, no other bank may locate a branch, ATM, or even bring a sales outreach to the school property. In addition, the school is giving US Bank the right to advertise on the scorecard at games, and other sales promotions.
It's all about money of course, and the one thing that really sticks in my craw is that the school will get a bonus for each student that opens an account. Students will also be able to use their ID cards as ATM cards, further blurring the lines between public and private entities. Personally, I think this is a bad idea, and lessens students access to competitive banking institutions. It also gives incentive for the school to encourage students to sign up with a chosen provider, which is just bad for a public entity alone, but fourfold when it is supposed to be a teaching environment.
I've uploaded the PDF on PDD here if you want to review the contract. I obtained it through my usual methods:
http://publicdocumentdistributors.com/forums/showthread.php?t=522
It's all about money of course, and the one thing that really sticks in my craw is that the school will get a bonus for each student that opens an account. Students will also be able to use their ID cards as ATM cards, further blurring the lines between public and private entities. Personally, I think this is a bad idea, and lessens students access to competitive banking institutions. It also gives incentive for the school to encourage students to sign up with a chosen provider, which is just bad for a public entity alone, but fourfold when it is supposed to be a teaching environment.
I've uploaded the PDF on PDD here if you want to review the contract. I obtained it through my usual methods:
http://publicdocumentdistributors.com/forums/showthread.php?t=522