November 7, 2011 Daily Sundial

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California State University, Northridge

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Monday, November 7, 2011

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Koester will still support faculty

No more $5 debit fee Major banks cancel controversial fees kat russell daily sundial

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ank of America has abandoned a monthly $5 debit card fee, which was scheduled to begin in early 2012. The announcement came after competitors, namely Wells Fargo and JPMorgan Chase, announced they were no longer going to exact similar fees. The bank cited customer feedback and a changing competitive marketplace as the reason for the bank’s “change of heart,” according to a Nov. 1 statement. “We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” David Darnell, co-chief operating officer, said in the statement. “Our customers’ voices are most important to us. As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.” Bank of America has been at the center of consumer anger over the past couple months after announcing in late September that they were thinking of implementing the monthly debit card

usage fee. An estimated 650,000 consumers have joined credit unions since the $5 charge was announced Sept. 29, according to the Credit Union National Association. This increase was massive compared to the estimated 600,000 consumers who made the switch in the whole of 2010. A new federal rule went into effect Oct. 1 limiting the fees banks can charge merchants when debit card purchases are made. New limitations are expected to cost banks an estimated $6.6 billion a year in revenue beginning in 2012, according to Javelin Strategy and Research. The initiation of debit card purchase fees were part of an effort by banks to recover some of those losses. The news of the fees sparked consumer outrage, with thousands of consumers pledging to move their money out of big banks, according to CNN. A poll conducted by the National Foundation for Credit Counseling showed 62 percent of consumers said they would leave their bank if it began charging for debit card transactions. In opposition of the new fees, consumers have turned to the Internet to campaign against major banks and

Scholarship is in the works katherine o’neill daily sundial

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Andres Aguila / Daily Sundial

A bicyclist uses the Bank of America drive-through ATM machine.

their fees. “Bank Transfer Day,” started on Facebook by small business owner Kristen Christian, signed up more than 80,000 people who pledged to transfer their monies. “Bank Transfer Day” was scheduled to take place Nov. 5, and has received much support from Occupy Wall Street protesters.

Molly Katchpole, a 22-yearold woman from Washington, D.C., launched an online petition on Change. org opposing the debit fees, and has collected over 300,000 signatures. The petition beseeches Bank of America to

See BofA, page 2

Murals may soon be legal

Angelenos in favor of the art form could win a nearly decade long struggle with the city joelle katz daily sundial

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ules governing murals in Los Angeles could be loosened now that L.A. City Council members voted in favor of revising the law last month. The city put a ban on private property murals in 2002 after outdoor advertising companies sued the city council for regulating signs, but not murals, said Rick Coca, spokesman for District 14. These regulations became tightly enforced between 2006 and 2007. Before this time, there wasn’t any ordinance on murals but there was a law governing signs and bill-

boards, Coca said. Billboard companies argued this wasn’t fair because it was too difficult to distinguish the difference between signs and murals. Now, any type of sign is not allowed on private property, but publicly funded murals are OK, said Coca. Martha Martinez, Chicana/o studies and sociology double major, focused her research project for the Ronald E. McNair Scholars program on murals. “Some of the murals on campus depict the history of Chicana/o and it’s important to have students know the history of the murals. It’s about the history of CSUN,” she said. “It’s

See mural, page 4

in today’s

issue

Volume 53 Issue 41 • A financially Independent student newspaper

Andres Aguila / Daily Sundial

A colorful mural occupies the side wall of Juan M.’s El Mini Discount Store/T-Shirt Spot. He say’s it has been up for the past year and has not had any problems with the city or taggers that would always write on the wall on a daily basis.

NEWS Study finds that children of illegal immigrants finish less school than legal immigrants p. 4

OPINION Surveillance cameras promote campus safety p. 6

new scholarship for CSUN faculty and staff wishing to return to school or pursue a new degree has been created carrying President Jolene Koester’s name. As Koester prepares to retire in December, the CSUN Foundation has established the Jolene Koester Presidential Scholarship Endowment. “A lot of our staff does great work that goes unnoticed,” Koester said. “They take care of our students (and) it’s my way of saying ‘thank you’ before I leave.” This funding is meant to encourage faculty and staff to pursue their desired degrees, said Vance Peterson, president of the CSUN Foundation. The foundation’s board of directors guaranteed to match private contributions up to $100,000, aiming for an total endowment of $200,000. An estimated $35,000 has been raised so far, bringing the current endowment, including the board’s match, to $70,000. “There’s such a widespread admiration for Dr. Koester’s leadership and accomplishments here at CSUN,” Peterson said. That admiration will likely be the cause of 99 percent of the private gifts dedicated to the funds, Peterson added. Even though CSUN faculty and staff have not seen a pay increase for the past four years, the endowment is meant to encourage their academic progress despite the economic turmoil. Faculty and staff are eligible to enroll in the Fee Waiver Program, a state-

See koester, page 2

SPORTS Women’s volleyball team’s hot streak puts it in second place in Big West. p. 8

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